REAL Madrid manager Carlo Ancelotti has been accused in Spain of hiding parts of his income in order to commit tax fraud.
Spanish state prosecutors accused Italian Ancelotti of alleged tax fraud today, claiming he used shell companies to hide parts of his income during his first spell at Real Madrid 10 years ago.
Prosecutors said in a statement issued today that they are accusing Ancelotti of two accounts of tax fraud that could lead to four years and nine months of prison.
They accused the former AC Milan and Chelsea head coach of having defrauded €1 million in 2014 and 2015.
The prosecutors claim that during that period Ancelotti only declared the income he received from Real Madrid and did not declare income from image rights.
They accused him of allegedly setting up a ‘confusing’ system of shell companies to hide his extra earnings.
Ancelotti, 64, first coached Real Madrid from 2013 to 2015 — during which he led them to ‘La Decima’, the then elusive 10th UEFA Champions League title — before rejoining the club in 2021.
