Money Matter$
An Italian involved in corruption - who’dve thought it?

To most Britons, Fabio Capello is known as a saviour of English football, who enjoys the occasional televised lapdance. To the Italian treasury, however, he is renowned for a lengthy history of tax evasion, financial deceit and eyebrow-raising offshore bank accounts.
Capello’s battle with the Italian authorities dates back to 1999, when he claimed to be a resident of a Swiss tax haven called Campione d’Italia. When he failed to recall the address of his studio flat in court, he signed a false residency declaration and paid a €2,300 fine.
The authorities’ suspicions were aroused once again towards the end of his spate with Roma, when the club paid €2m to a company named Sport 3000 for a range of Fabio Capello fragrances, scarves and designer items.
Sport 3000 turned out to be a subsidiary of the ‘Capello Family Trust’, an offshore holding company based in tax-friendly Guernsey and owned by England’s current manager. The items were kept under lock and key by customs officers for two years, and eventually destroyed. It was discovered that Roma agreed to purchase the smellies and designer tatt from Capello as a means of giving him a ‘low tax’ bonus on his salary

Tags: Capello Family Trust, England, Fabio Capello, Genoa, Giochi Preziosi, Italy, Perjury, Roma, Sport 3000, tax, The FA
Posted: September 11th, 2009 by Ryan Bailey
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