Dolce & Gabbana: Convicted of Tax Evasion!

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Dolce & Gabbana have been convicted of tax evasion. As in the two guys who created the namesake luxury label. Maybe pinstripes will be in this year?

Dolce and Gabbana Pic

Dominico Dolce and Stefano Gabbana were found guilty Wednesday by a court in Milan, Italy, of failing to pay taxes on about $268 million in income.

Makes Lauryn Hill and Wesley Snipes look like model citizens.

The duo received a suspended jail sentence of 20 months and were ordered to pay $670,000 in penalties to Italy's tax authorities, reports indicate.

However, a jury acquitted them of misrepresenting earnings totaling $560 million, despite the fact a statute of limitations expired on the charge.

The case stemmed from the fact that Dolce and Gabbana sold their brand to a Luxembourg-based company in 2004 to avoid having to pay taxes.

Dolce, 54, and Gabbana, 50, have maintained innocence throughout a process that began when Italy's Tax Commission initiated a probe of the sale.

Two years ago, a court tossed charges of tax evasion and fraud against the pair.

Because the Milan mainstays plan to appeal their sentence, given the complexities of Italian law, they are unlikely to spend anytime behind bars.

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