Appeals Court in Italy Overturns Gucci Conviction
An appeals court has cleared Maurizio Gucci, former chairman of the Italian fashion firm Guccio Gucci SpA, of attempted fraud in the inheritance of company shares, a Gucci spokesman said today.
The decision overturned a judgment last month under which Gucci was given a one-year suspended jail sentence after being charged with forging his dead father’s signature on documents transferring 50% of shares in the leather goods and fashion firm to him.
The prosecution said Gucci had sought to avoid paying inheritance taxes.
“The ruling can only fill me with satisfaction. . . . After five difficult years, justice has finally been done in respect of my father’s wishes,” the spokesman quoted Gucci as saying.
Gucci was ousted as company chairman in July, 1987, and replaced by his cousin Giorgio.
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