Nina Ricci found guilty for Tax Frauds

Nina Ricci the lady behind fashion and perfume house, has been sentenced for one year imprisonment and heavy fines has been levied on her, for hiding millions of EUROs in her HSBC account in Switzerland.

Monday’s ruling was the first involving a famous name in the so-called Swissleaks scandal, in which a former HSBC employee gave authorities thousands of names of suspected tax evaders. Other trials are expected to follow.

A Paris court convicted Arlette Ricci, 73, granddaughter of designer Nina Ricci, of tax evasion and money laundering. The court ordered a 1-million-euro fine and the confiscation of two properties worth 4 million euros.

The court ordered Ricci, a lawyer and two companies to pay millions in back taxes.

Her lawyer is deciding whether to appeal.

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