MILAN — Matteo Marzotto’s tax trial was deferred to November 28 by judge Lucio Nardi at Milan’s courthouse on Friday during the first hearing.
According to a legal source, Nardi is soon expected to move and preside at another courthouse in the Italian city of Pavia. so he postponed the Marzotto trial until late in the year to avoid leaving as it progressed.
This is the second delay for the trial, which was first affected in March when a strike of Italian lawyers prevented it from beginning.
Neither Marzotto nor his sister Diamante, indicted with other defendants for alleged omission of earnings declaration and tax evasion, were present in court on Friday. Matteo Marzotto has in the past declared that he had “always operated in the full respect of the law.”
The allegations involve the Marzotto family’s association with the sale of Valentino Fashion Group to private equity fund Permira in May 2007 for more than 782 million euros, or $1 billion.
Defendant Bart Zech, administrator of the board of International Capital Growth, a firm the tax police believe to be a fictitious entity based in Luxembourg but managed in Milan, and allegedly created for the purpose of selling 29.9 percent of the Valentino group, was declared “untraceable” and his trial has been suspended until he can be found and officially notified.
According to the indictment, taxes on the profit derived from the transaction were never paid in Italy.
Also indicted are real estate entrepreneur Massimo Caputi and Pierre Kladny, president of the board of ICG. Neither attended the hearing on Friday.
The probe was initiated by state prosecutors Gaetano Ruta and Laura Pedio, who have also headed up the Domenico Dolce and Stefano Gabbana tax case.
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