RADAMEL FALCAO has accepted an £8million fine and a 16-month suspended prison sentence after being found guilty of tax evasion in Spain.
The former Manchester United and Chelsea striker, 32, made the agreement with Spanish authorities after committing “crimes against the treasury” in 2012 and 2013.
Radamel Falcao will pay the Spanish authorities an £8million fine
Getty Images
Radamel Falcao is accused of committing ‘crimes against the treasury’ in 2012 and 2013
The Monaco forward appeared before a Madrid judge on May 23 and reached an agreement that will see him pay a whopping £7.9m fine to the Spanish treasury.
Falcao also accepted a 16-month prison sentence that was reduced to a fine of £84,300.
The Colombian, who played for Atletico Madrid between 2011 and 2013, was accused of using a shell company in the British Virgin Islands and Ireland to hide gains from his image rights.
Falcao joins a string of world-class players adjudged to have defrauded the Spanish treasury during their careers in La Liga.
Reuters
Jorge Mendes arrives at a Madrid court for the trial of his client Rademel Falcao
Why are so many La Liga stars facing tax issues?
WHEN David Beckham joined Real Madrid in 2003, he became the pioneer of a new tax-exemption scheme Spain introduced in order to attract top foreign talents across all sectors.
It became known as the “Beckham Law” and the ex-England captain signed up to a six-year-long tax ceiling of 24 per cent — which was around half what was paid at the time on six-figure-plus incomes.
Spain was enjoying an incredible economic boom, and became the perfect place to attract “Galactico” players such as Luis Figo, Zinedine Zidane and Ronaldo.
But the Beckham Law was scrapped in 2010 for annual salaries of over £530,000 (€600,000), and Spanish tax inspectors are now far more aware of complex financial operations involving offshore accounts to get around tax laws.
In February, Alexis Sanchez accepted 16 months in prison for defrauding £890,000 between 2012 and 2014 while at Barcelona.
Real Madrid defender Marcelo was penalised for defrauding nearly £440,000, while Javier Mascherano was judged to have hidden £1.3m.
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Lionel Messi received a 21-month prison sentence, reduced to a £221,000 fine for defrauding tax authorities of £2.7m.
And Cristiano Ronaldo is under investigation for allegedly defrauding £13m and is trying to reach an agreement with the Spanish Treasury.
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