Prada chairwoman, CEO under investigation?


Posted at Jan 14 2014 10:24 AM | Updated as of Jan 14 2014 06:24 PM

HONG KONG - Italian luxury fashion house Prada SpA said neither fashion designer Miuccia Prada nor her husband and chief executive officer Patrizio Bertelli were aware of any investigations taking place.

Prada, who is also chairwoman of the company, and her husband are under investigation as part of a tax avoidance probe by Milan prosecutors, three investigative sources told Reuters on Friday.

Prada Holding B.V. had completed a voluntary disclosure process with the Italian Tax Authority, the Hong Kong-listed firm said in a filing to the Hong Kong bourse on Tuesday. It gave no further details.

A spokesman for lawyers representing Prada Holding, through which Miuccia, her siblings and husband control the luxury group centred on a brand founded by her family in 1913, had said last week he was not aware of the investigation.