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Real Madrid boss Ancelotti ‘calm’ about tax fraud accusations

Real Madrid boss Ancelotti ‘calm’ about tax fraud accusations

REAL Madrid manager Carlo Ancelotti said he was calm about accusations he avoided 1 million euros ($1.09 million) in taxes on image rights revenues while he was at the club in 2014 and 2015. A Spanish prosecutor is seeking a prison term of four years and nine months for Ancelotti. In a statement on Wednesday, the prosecutor said that although the Italian coach was a resident in Spain for tax purposes at the time and filed his tax returns there, he had omitted the income earned through his image rights - 4.2 million euros ($4.58 million) in total. "It's an old…
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Political pressure, fraud in multi-billion COVID-19 contracts

Political pressure, fraud in multi-billion COVID-19 contracts

A probe into public spending on coronavirus in South Africa has found evidence of political pressure, price inflation, and fraud in many of the contracts, fuelled by an "insatiable pursuit of self-enrichment", a report showed on Friday. The Special Investigation Unit (SIU) launched the probe in July after a flood of whistleblower submissions alleging irregularities in the procurement of personal protective equipment (PPE) and hospital supplies like beds and wheelchairs. The investigation found evidence of tax fraud, the use of shell companies to win multiple contracts, instances of price inflation of up to 500%, and political pressure put on managers…
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