Cristiano Ronaldo Might Face Seven Years In Prison
Cristiano Ronaldo could be sentenced to up to seven years in prison for alleged tax fraud, according to a new report.
An article published by German magazine Der Spiegel, based on information provided by Football Leaks, claims the Real Madrid and Portugal star is being investigated for using several tax havens to hide money from the Spanish treasury.
Ronaldo is being accused of receiving approximately €150 million in image and advertising rights between 2009 and 2014.
According to Der Spiegel, only 4% of that figure around €6m – was declared to the treasury, which if true; is much lower than is required by law.
The 33-year-old is alleged to have lodged the excess funds in offshore accounts in Ireland and the British Virgin Islands, as well as a small Swiss bank and a foundation in Panama. Der Spiegel also reports the involvement of a holding company in Luxembourg and a trust fund based in Jersey.
However, Ronaldo’s name does not actually appear in any of the official documents of said companies – only “administrators” who Der Spiegel claim would have acted as the player’s figureheads. For i.e, the name “Private Trustees” appears regularly in the documentation – a company whose sole beneficiary is Cristiano Ronaldo.
Offshore companies are not illegal, provided taxes are properly paid which, allegedly – Ronaldo did not do. According to documents provided by Football Leaks, Ronaldo failed to declare a trust fund based in Jersey Island in his 2015 tax return.