Spanish prosecutors accuse Real Madrid coach Carlo Ancelotti of alleged tax fraud

Wed, Mar 6, 2024
Soccer News (AP)

MADRID (AP) - Spanish state prosecutors have accused Real Madrid coach Carlo Ancelotti of alleged tax fraud, claiming he used shell companies to hide parts of his income during his first stint at the club a decade ago.

Prosecutors said in a statement Wednesday that they are accusing Ancelotti of two accounts of tax fraud that would be punishable with four years and nine months of prison. They accused the Italian coach of having defrauded 1 million euros in 2014 and 2015.

The prosecutors claim that during that period Ancelotti only declared the income he received from Real Madrid and did not declare income from image rights. They accused him of allegedly setting up a "confusing" system of shell companies to hide his extra earnings.

The 64-year-old Ancelotti coached Madrid from 2013-2015 before rejoining the club in 2021. He is one of soccer's most successful coaches.

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