Cristiano Ronaldo denies tax fraud allegations

Real Madrid backed star forward Cristiano Ronaldo on Wednesday after Spanish prosecutors accused the star player of evading 14.7 million euros in tax through offshore companies.

Ronaldo's agency, GestiFute, had previously maintained he was up to date on his taxes.

When asked about the reports last month, Ronaldo dismissed them and said he had nothing to fear.

Ronaldo's PR team has always strenuously denied any wrongdoing since Football Leaks claimed in 2016 that he'd avoided paying tax on €150m in image rights earnings.

With no previous record of tax evasion or other offences, Ronaldo would not spend time in jail - even if he is found guilty of the charges. More importantly, if such highly paid soccer stars could be involved in such elaborate tax avoidance schemes, it brings into question what soccer players lower on the totem pole might be up to.

Tollin Associates then ceded his image rights to a company in Ireland called Multisports&Image Management Ltd which was responsible for managing them.

The denial arrives hours after a tax fraud lawsuit was filed against him in Madrid.

Because the court's sentence was less than two years and neither Messi had a criminal record, neither was sent to prison. Neymar has also problems with the Spanish Justice as he's been investigated for corruption in his transfer from Santos to FC Barcelona.

Months after superstar Lionel Messi was convicted on a 21-month sentence, it seems that a Spanish prosecutor has formally accused Real Madrid's Cristiano Ronaldo of four counts of tax evasion.

A statement released on the club's official website read: "Real Madrid C.F have full confidence in our player Cristiano Ronaldo, who we understand has acted in accordance with legality regarding the fulfilment of his fiscal obligations".

According to the accusation, after signing his contract with Real Madrid, Ronaldo "purported to" cede his image rights to a shell company based in the British Virgin Islands, a tax haven in the Caribbean.

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