Italy’s Berlusconi Sentenced to Four Years in Jail for Tax Fraud

Oct. 29, 2012 Former Prime Minister of Italy, Silvio Berlusconi has been sentenced to four years in prison for his tax fraud and tax evasion in a Milan courtroom in Italy.

Berlusconi, the 76 year old former playboy PM of Italy is most known  for his scandalous orgies called “Bunga Bunga” parties attended by famous celebrities, the wealthy and underaged young girls.

In a Milan court, after the conviction he made some threatening remarks against the current Prime Minister Mario Monti and said he would bring the Italian government down.  His comments:

“We have to recognize the fact that the initiative of this government is a continuation of a spiral of recession for our economy”

“Together with my collaborators, we will decided in the next few days whether it is better to immediately withdraw our confidence in this government or keep it, given the elections that are scheduled”.

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Berlusconi then went on to attack German Chancellor Angela Merkel, France’s Nicolas Sarkozy for destroying his credibility. However, Berlusconi’s party the PDL is seeking to distance themselves from the former Prime Minister now disgraced by the courts.

The sentence of four years can or will be reduced to just one year under Italy’s amnesty laws, which is a cop out if Italy is to get rid of it’s criminal politicians. In addition to the prison sentence, he may not be allowed to seek political office for a period of 5 years. Italy has a long appeal process which will assure Berlusconi never sees a prison cell for quite sometime to come. What kind of justice is that for tax fraud by a Prime Minister?

But Berlusconi may be stirring up trouble with his threats in the bond markets which are already unstable due to his own government that ran up the debt in the first place.

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Berlusconi Sentencing in Italian Courts for Tax Fraud