MILAN — More details are coming to light in the alleged tax evasion case involving luxury fashion house Gucci, which is under investigation by the Guardia di Finanza, the national police force specializing in financial crimes.
On Tuesday, Italian newspaper La Stampa reported that Gucci would have been accused by Milan-based prosecutor Stefano Civardi of defrauding the country’s tax authorities of 1.3 billion euros in unpaid taxes starting from 2010.
In particular, the money in question would involve revenues from activities that were registered in Lugano, Switzerland, but which would have been linked to the work of managers formally based in Lugano, where companies tend to be subjected to a more favorable tax regimen than in Italy, but actually working in Milan.
The Italian newspaper also alleged that a former manager of Gucci’s parent company Kering, lawyer Carmine Rotondaro, is accusing Gucci and collaborating with the prosecutor.
According to La Stampa, Rotondaro in the past was in the role of fiscal adviser and responsible for the retail real estate business of the French luxury conglomerate.
In 2016, Rotondaro was accused of tax evasion by the Italian tax police and, as part of an investigation conducted by prosecutor Civardi, last January Milan’s Guardia di Finanza seized 13 properties owned by Rotondaro for a sum of seven million euros.
At the same time, Rotondaro is at the center of another investigation conducted by Florence’s prosecutor on several of Kering’s real estate operations linked to the development of luxury outlets in Sanremo and Reggello, respectively in the Liguria and Tuscany regions.
As part of the Milanese investigation, Kering accused Rotondaro to have cashed in money destined to the real estate investments and to have also collected money through foreign entities, which were not openly connected to its former manager.
Reached by phone on Tuesday, a Gucci spokesperson said that the company confirms what it expressed on Saturday with a statement that the fashion house “is providing its full cooperation to the respective authorities and is confident about the correctness and transparency of its operations.”
Kering declined to comment on the news report and prosecutor Civardi was not reachable for comments.