Former Italian Prime Minister Sentenced for Tax Fraud

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Former Italian Prime Minister Silvio Berlusconi was sentenced Friday to four years in prison for tax evasion by a Milan court, CNN reported.

However, only house after the four-year sentence was revealed, Berlusconi's sentence was cut to one year in accordance with a 2006 amnesty law meant to reduce overcrowding in Italy's jail system, according to the Telegraph.

His trial involved executives from his Mediaset television group and the head of a Swiss bank, and concerned the purchase of TV rights for films that were then resold within the group at inflated prices. The scene allowed those involved to avoid a major tax bill.

Berlusconi is likely to appeal, calling the sentence "unacceptable" and even calling himself a victim of "judicial harassment."

The 76-year-old Berlusconi resigned as prime minister in November amid the country's massive debt crisis.

He also faces trial on charges that he hired an underage prostitute and tried to "pull strings to get her out of jail" when she was accused of theft.

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This page contains a single entry by pete8374 published on October 26, 2012 11:47 PM.

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