Former Italian prime minister Silvio Berlusconi has been convicted of tax evasion and sentenced to four years imprisonment
MILAN, Italy -- A Milan court has found Silvio Berlusconi, the billionaire former Italian prime minister, guilty of tax fraud and sentenced the 76-year-old to four years in prison.
The conviction was related to a case involving the purchase of U.S. television rights by Berlusconi's private television networks. By falsely declaring the associated payments, Berlusconi's Mediaset SpA television company fraudulently pocketed around 200 million Euros ($260m, £160m).
Earlier in the week, Berlusconi had announced he wouldn't run for a fourth term during the next elections due in May.
Legal experts commented that given Berlusconi's age and the nature of the country's appeals process, it is unlikely he will serve any time.
Oct. 26 (Bloomberg) -- Silvio Berlusconi, the billionaire former Italian prime minister, was found guilty of tax fraud and sentenced to four years in prison in a film-rights case involving his Mediaset SpA television company. Berlusconi's sentence was read today by a judge in Milan. Sara Eisen and...