Vapia limited

Real Madrid: Real Madrid's head coach Carlo Ancelotti has been accused of defrauding the Treasury of over 1 million euros during his tenure between 2014 and 2015 as Real Madrid manager, says a report.

According to Relevo (Spanish sports website), Ancelotti now faces the grim prospect of a jail sentence of four years and nine months and the ignominy of a tainted reputation.

"The charges stem from allegations that Ancelotti failed to declare income from his image rights in his tax returns, instead channeling the funds through a company named Vapia Limited. Prosecutors contend that Ancelotti orchestrated a scheme to conceal his earnings, transferring his image rights to Vapia for a substantial sum and subsequently omitting the corresponding income from his tax filings.