Overview

• The Audiencia Provincial de Madrid found Carlo Ancelotti defrauded €386,361.93 by channeling 2014 image-rights income through shell companies
• He was sentenced to one year in prison, suspended because the term is under two years and he has no prior criminal record
• The court acquitted him of a separate fraud charge relating to the 2015 fiscal year
• Ancillary penalties include a €386,361.93 fine, loss of public subsidies and tax benefits for three years, and civil liability in favor of the Spanish Treasury
• Judges determined he had clear knowledge of his tax obligations and a conscious intent to evade payment despite his claim that Real Madrid and advisors guided the arrangements