tax fraud Archives - uSports.org https://usports.org/tag/tax-fraud/ Sports News & Views Wed, 21 Jun 2017 19:07:28 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Paris Saint-Germain’s Angel Di Maria Gets One-Year Prison Sentence For Tax Fraud https://usports.org/paris-saint-germains-angel-di-maria-gets-one-year-prison-sentence-tax-fraud/ https://usports.org/paris-saint-germains-angel-di-maria-gets-one-year-prison-sentence-tax-fraud/#respond Wed, 21 Jun 2017 19:07:28 +0000 http://usports.org/?p=39557 Argentina's Angel Di Maria Dedicates Goal to Grandma in 2-1 Copa America win vs Chile
Angel Di Maria has been sentenced to one year in prison after the Paris-Saint-Germain midfielder confessed to tax fraud. Angel Di Maria Accused Of Tax Evasion From 2012 to 2013 While Playing with Real Madrid The 29-year-old Argentine is reportedly expected to pay 2 million euros ($2.23 million) in fines and back-taxes for defrauding the Spanish […]

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Argentina's Angel Di Maria Dedicates Goal to Grandma in 2-1 Copa America win vs Chile

Angel Di Maria has been sentenced to one year in prison after the Paris-Saint-Germain midfielder confessed to tax fraud.

Angel Di Maria Accused Of Tax Evasion From 2012 to 2013 While Playing with Real Madrid

The 29-year-old Argentine is reportedly expected to pay 2 million euros ($2.23 million) in fines and back-taxes for defrauding the Spanish government during his time as a player for Real Madrid.

Spain’s prosecutor alleged in November 2016 that Di Maria failed to declare 1.298 million euros ($1.45 million) in earnings between 2012 and 2013, his penultimate season at the Santiago Bernabeu. The midfielder has played for PSG since 2015.

According to the prosecutor’s office, Di Maria gave his image rights to an offshore company based in Panama named Sunpex Corporation, Inc.

Spanish newspaper El Confidencial  reported that Di Maria will admit to two counts of tax fraud after his attorneys and the public prosecutor came to a deal on Wednesday.

Nevertheless, the agreement has to be formally processed in a hearing before a judge.

Given that under Spanish law, sentences of less than two years for non-violent crimes are generally suspended unless the offender has a prior conviction. Thus, Di Maria will likely not serve any jail time.

The Argentine’s cases is similar to that of several other major soccer players who have been accused of fiscal evasion. Di Maria’s former teammate from Real Madrid Cristiano Ronaldo was also accused of $16M tax fraud earlier this month, an allegation that has infuriated the Portuguese star and caused him to threaten to leave the Spanish club for other teams like Manchester United, for whom he played from 2003-2009.

Barcelona forward Lionel Messi and his father Jorge — who is also his business manager — were equally accused of tax evasion, though both men will probably avoid prison time for the same reason. Messi was sentenced to 21 months in prison after pleading guilty to three counts of tax fraud.

Messi’s Barcelona teammate — defender Javier Mascherano — received a one-year prison sentence as part of a plea bargain for tax fraud in January 2016.

Di Maria joined Real Madrid in the summer of 2010 from Portuguese club Benfica, and then transferred from the Spanish club to Manchester United in 2014 for a British record transfer fee of £59.7 million (75.6 million euros, or $84.25 million at today’s rate).

PSG then bought Di Maria from United 11 months later for a fee of 63 million euros (£44 million or $70 million at today’s rate).

United manager Jose Mourinho was also accused by Spanish prosecutors of tax evasion earlier this week.

Di Maria is represented by Gestifute, which is owned by agent Jorge Mendes.

SANTA CLARA, CA – JUNE 06: Angel Di Maria #7 of Argentina dribbles the ball up field against Chile during the 2016 Copa America Centenario Group match play between Argentina and Chile at Levi’s Stadium on June 6, 2016 in Santa Clara, California. (Photo by Thearon W. Henderson/Getty Images)

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https://usports.org/paris-saint-germains-angel-di-maria-gets-one-year-prison-sentence-tax-fraud/feed/ 0 uSports.org SANTA CLARA, CA - JUNE 06: Angel Di Maria #7 of Argentina dribbles the ball up field against Chile during the 2016 Copa America Centenario Group match play between Argentina and Chile at Levi's Stadium on June 6, 2016 in Santa Clara, California. (Photo by Thearon W. Henderson/Getty Images)
Spain’s Supreme Court Upholds Lionel Messi’s 21-Month Jail Sentence For Tax Fraud https://usports.org/spains-supreme-court-upholds-lionel-messis-21-month-jail-sentence-tax-fraud/ https://usports.org/spains-supreme-court-upholds-lionel-messis-21-month-jail-sentence-tax-fraud/#respond Wed, 24 May 2017 16:08:20 +0000 http://usports.org/?p=38922 MADRID, SPAIN - APRIL 23: Lionel Messi of Barcelona celebrates as he scores their third goal during the La Liga match between Real Madrid CF and FC Barcelona at Estadio Bernabeu on April 23, 2017 in Madrid, Spain.
Spain’s Supreme Court on Wednesday denied Lionel Messi’s appeal against a 21-month prison sentence for tax fraud, although the Barcelona forward is unlikely to serve jail time. Lionel Messi and Father’s Appeal Denied, but Unlikely to Serve Jail Time Under Spanish Law The 29-year-old Argentine soccer star and his father Jorge — who manages his finances — were both […]

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MADRID, SPAIN - APRIL 23: Lionel Messi of Barcelona celebrates as he scores their third goal during the La Liga match between Real Madrid CF and FC Barcelona at Estadio Bernabeu on April 23, 2017 in Madrid, Spain.

Spain’s Supreme Court on Wednesday denied Lionel Messi’s appeal against a 21-month prison sentence for tax fraud, although the Barcelona forward is unlikely to serve jail time.

Lionel Messi and Father’s Appeal Denied, but Unlikely to Serve Jail Time Under Spanish Law

The 29-year-old Argentine soccer star and his father Jorge — who manages his finances — were both convicted by a Barcelona court in July 2016 for evading €4.1m (£3.5m; $4.6m) in taxes on Messi’s image rights from 2007 to 2009.

Per MailOnline’s Pete South, Messi and his father were also fined €2 million ($2.24 million) and €1.5 million ($1.68 million) respectively.

Jorge Messi’s sentence was reduced from 21 months to 15 by the Supreme Court to account for the income he had since handed to tax authorities.

Both him and his son probably won’t spend any time in jail, however, given Spanish laws dictating that prison terms of less than two years (for non-violent offenses) can be served under probation.

South explained that it is common under Spanish law for defendants without prior convictions to avoid prison time for such crimes.

Messi and his father were found guilty of three counts of fraud for using tax havens in Belize and Uruguay — as well as shell companies in the U.K. and Switzerland — between 2007 and 2009.

The pair were charged with employing fake companies to avoid paying Spanish taxes on income that derived from companies paying for the use of the Argentine striker’s image rights.

News of the investigation initially surfaced in 2013, when Jorge reportedly paid more than €5 million ($5.6 million) in arrears and extra charges. Messi’s father also allegedly paid €10 million ($11.2 million) in taxes due on the player’s image rights income from 2010 to 2011.

These transactions are reportedly the reason for Jorge’s sentence being reduced by six months.

Messi, a five-time Ballon d’Or winner, repeatedly denied any wrongdoing during his trial in June 2016.

“I was dedicated to playing soccer,” he said. “I trusted my father and the lawyers that we had chosen to deal with our affairs. At no time did I think that they could deceive me.”

Messi admitted during last year’s trial that he signed many of his income and tax-related documents when he was younger without reading their full contents. The Argentine also stated he visited a notary to establish a company to mange his finances without understanding the specifics of the situation.

However, Mario Maza — the state attorney representing the tax authorities throughout the trial, explained he found it improbable that Messi did not comprehend what was going on.

“It could be that they are inexperienced with tax matters and the law and are not able to set up their own companies, but they are able to understand what paying your taxes means,” Maza said.

Messi, who was the leading scorer in La Liga this season with 27 goals, is negotiating a contract renewal with Barcelona. His current deal will expire at the end of next season.

According to ESPN FC, the Catalan club said they were optimistic the Argentine forward would sign an extension. Spanish radio reported Tuesday that a new contract will be signed at the start of next season so that the money is utilized as part of the following year’s budget.

 MADRID, SPAIN – APRIL 23: Lionel Messi of Barcelona celebrates as he scores their third goal during the La Liga match between Real Madrid CF and FC Barcelona at Estadio Bernabeu on April 23, 2017 in Madrid, Spain. (Photo by David Ramos/Getty Images)

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https://usports.org/spains-supreme-court-upholds-lionel-messis-21-month-jail-sentence-tax-fraud/feed/ 0 uSports.org MADRID, SPAIN - APRIL 23: Lionel Messi of Barcelona celebrates as he scores their third goal during the La Liga match between Real Madrid CF and FC Barcelona at Estadio Bernabeu on April 23, 2017 in Madrid, Spain.