Thursday 7 July 2016

Lionel Messi Faces Jail Sentence in Spain for Tax Fraud

Barcelona: Famous soccer player Lionel Messi has been sentenced by a Spanish court on Wednesday to 21 months of imprisonment for charges over tax fraud.


Reports are that Lionel, along with his gather Jorge Messi, was found guilty of using shell companies in Belize, Britain, Switzerland and Uruguay to avoid paying taxes on 4.16 million Euros of the footballer’s income earned from his image rights from 2007-09.
Reports are that the five-time world player of the year winner can appeal the court sentence against him. However, prison sentence is likely to suspend for Messi as non-violent crimes carrying less than two-years of punishment in Spain gets suspended. The international soccer player was associated with companies like Danone, Adidas, Pepsi-Cola, Procter & Gamble and the Kuwait Food Company and had hidden his endorsement deals.
The 29-year-old footballer was fined 2.09 million Euros while his father was fined 1.6 million Euros.
Following the sentences, Messi said that he only followed advices of his financial advisor and his family. “All I knew was that we signed agreements with certain sponsors, for X amount of money and that I had to do advertisements, photos and those things. But about the money and where it went I knew nothing,” he added.
During the court session, Jorge Messi and two financial advisors agreed that the player never used to manage his wealth.
Messi is a five-time recipient of the prestigious Ballon d’Or. However, the player’s salary is not public but the Forbes magazine has listed him in the 10th position of highest-paid athletes over the past decade, with an estimated income of $350 million.
Messi became a Spanish citizen in 2005.


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