Happy 2013 to Bulgari, who got to ring in the New Year with tax fraud charges. According to Italian newspaper Il Corriere della Sera, Italian officials have accused the Rome-based jewelry brand of wiggling out of tax payments of more than €70 million, or about $92 million, reports WWD. The evasion supposedly took place throughout the past few years, but particularly in 2011, when LVMH took over the company in a $6 billion deal. The police in charge of the investigation have alleged that some of Bulgari’s revenues were diverted through Luxembourg and Ireland instead of being declared and taxed in Italy, as they’re required to be. At least now Dolce & Gabbana’s lawyers will have kindred spirits to complain with about the terrible espresso machines in the courtroom this coming year.
Bulgari. Photo: Dylan Calves/AFP/Getty Images