~~ Hot. Damn. That’s a lot of money….. And to open up an admit that it’s €15m more than what the prosecution thought, dude must be playing the honesty card in hopes of not getting nailed on this one.
Bayern Munich president, Uli Hoeness, told a tax trial that he hid millions of euros more than authorities thought but denied being a “social parasite”.
His defence lawyer Hanns Feigen said that Hoeness cheated the taxman out of €18.5m (£15.4m) – €15m more than the €3.5m listed by the prosecution.
Vowing he wants to come clean on his fiscal wrong-doing, Hoeness told the Munich court that he stashed away the money in a secret Swiss bank account during years of obsessive stock “gambling”.
“I am glad that everything is now transparent and on the table,” the 62-year-old, who now faces a possible jail term, said on the first day of his trial. I deeply regret my misbehaviour. I will do everything to ensure that this distressing chapter closes.”
“I have evaded taxes,” a rueful Hoeness told the packed court. “I am aware that turning myself in to the authorities does not change that. I was hoping to escape criminal charges with a voluntary disclosure.”
Prosecutors argue that his self-reporting of a Zurich account in January 2013 contained irregularities and is invalid because authorities already had Hoeness in their sights at the time.
The former footballer, who also runs a lucrative sausage company, said that during years of stocks trading from 2003 to 2009 that amounted to virtual “gambling”, he had lost sight of his gains and losses.
He has earlier told German media that he received a €10.2m loan for trading in his Swiss bank account in 2001 from the late Robert Louis-Dreyfus, then chief of the club’s supplier, and major shareholder, Adidas.
More after the Jump……..