MADRID: Real Madrid coach Carlo Ancelotti’s tax fraud trial wrapped up on Thursday in Spain, with public prosecutors demanding he be jailed for four years and nine months for allegedly hiding income from the tax office.
Ancelotti – who, as a coach, has won a record five Champions League trophies including three with Real Madrid – is accused of failing to pay more than €1 million (US$1.1 million) due to undeclared earnings from image rights in 2014 and 2015 during his first spell at the club.
Prosecutors allege he set up a “confusing” and “complex” system of shell companies to hide his extra earnings during this time from his image rights and other sources such as real estate, and only reported his salary.