The Standard Group Plc is a multi-media organization with investments in media platforms spanning newspaper print operations, television, radio broadcasting, digital and online services. The Standard Group is recognized as a leading multi-media house in Kenya with a key influence in matters of national and international interest.

Standard Group Plc HQ Office,
The Standard Group Center,Mombasa Road.
P.O Box 30080-00100,Nairobi, Kenya.
Telephone number: 0203222111, 0719012111
Email: [email protected]

NEWS & CURRENT AFFAIRS

The Nairobian

Ex-Atletico Madrid player Falcao to admit to tax fraud in Spain

Football

By Reuters | Sep 16, 2017

Colombian footballer Radamel Falcao, who played for Atletico Madrid between 2011 and 2013, will plead guilty to tax fraud in Spain and pay a fine of 6.9 million euros in order to avoid a trial, a source on his legal team said on Saturday.

Falcao, who now plays in the French league for Monaco, was accused of not properly declaring around 5.6 million euros earned in image rights between 2012 and 2014.

The striker will plead guilty to the charge, taking sole responsibility, a source on his legal team said, confirming reports in Spanish newspaper El Mundo.

Falcao paid 8.2 million euros to the Spanish authorities in July so the agreement will result in around 1.3 million euros being returned to the player, the source said.

The Spanish prosecutor’s office was unavailable to confirm the reports.

Keep Reading

Spanish authorities have investigated numerous football players for allegedly failing to properly declare earnings from image rights.

In 2016 Barcelona’s Lionel Messi and his father were found guilty of tax fraud to the tune of 4.1 million euros ($4.68 million) over income earned from image rights.