Prison term in France for Ricci heiress over tax fraud

PARIS: A French court Monday sentenced Arlette Ricci, heiress to the French fashion designer Nina Ricci's estate, to three years in prison and handed her a million-euro fine for tax fraud.
Ricci, who was not present for the verdict, was exposed in the so-called "SwissLeaks" cache of secret data of HSBC clients that was passed to French authorities.
The Paris court said Ricci had hid funds she inherited from her father from the French taxman "for more than 20 years with particular determination."
The court also confiscated properties in Paris and Corsica, estimated to be worth around four million euros.
Ricci's lawyers said they would wait to see the full details of the verdict before deciding whether to appeal.
Two of the three years in prison were suspended, meaning Ricci would have to serve them only if she re-offends. – AFP