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Bayern boss admits $26m tax dodge
The Saudi Gazette Published in The Saudi Gazette on 11 - 03 - 2014


MUNICH — Bayern Munich president Uli Hoeness stunned a German court Monday by admitting he had evaded taxes of 18.5 million euros ($26m) using a secret Swiss bank account - more than five times the amount on a prosecutors' charge sheet. Once one of Germany's most admired managers, Hoeness apologized and appealed for leniency at the start of a trial in a case that shocked Germany. State prosecutor Achim von Engel read the charge sheet in which he was accused of evading 3.5 million euros in taxes - on undeclared income of 33.5m euros between 2003 and 2009. Hoeness could be sentenced to between five and 10 years in jail. — Reuters

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