Gucci Heir Convicted in Tax Case in Italy

Maurizio Gucci, an heir of the founder of the Gucci luxury goods company, was convicted of attempted tax fraud on Monday and given a $750 fine and a one-year suspended sentence.

Vittorio Ajello, the lawyer for Gucci, said the decision means Gucci will regain control of shares that will give him half of the company.

Gucci was accused of having arranged the falsification of the signature on the documents to avoid paying inheritance taxes by making it appear that his father, Rodolfo, transferred ownership of the shares before his death in 1983.

Gucci’s ownership of the shares was not in question, only when the transfer was made. The court froze the shares to assure he could pay any fine levied in the tax fraud case.

He had faced a possible penalty of three years in jail and a fine of about $23 million.