AC Milan
AC Milan
Italian prosecutors investigate tax evasion in player deals
Published
Jan. 26, 2016 7:34 a.m. ET
foxsports
ROME --
Naples prosecutors have announced a sweeping investigation into allegations of falsifying player transactions to avoid as much as 12 million euros ($13 million) in taxes involving as many as 35 Serie A and Serie B teams.
Italian financial police were executing search warrants Tuesday against about 60 suspects working in professional soccer, including team managers, players and agents, and exercising seizures of cash, real estate and financial holdings equal to the amount of tax allegedly evaded.
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The news agency ANSA reported that agents were searching offices at AC Milan's headquarters.
Juventus shares dropped almost 2 percent while Lazio's stock was temporarily suspended from trading. Roma shares rose.
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