AC Milan’s president and owner: Silvio Berlusconi, who is also a former Italian Prime Minister, has been sentenced to four years of imprisonment over a tax evasion case, though; his sentence has already been reduced to one year. Berlusconi’s trail, who is the longest running Prime Minister post-war, and his indictment could mean lots of ups and downs in Milan’s financial health. At the moment, Berlusconi is planning to appeal against the order, yet it is confirmed that he is a convicted of tax frauds in Italy now. The 76 year old richest Italian was not in the court room at the time of the sentence and said judgment also debarred him for holding any public office for next three years. The reduction in his initial sentence from four years to one year has nothing to do with his position, but it is granted according to amnesty laws of Italy that describe means of relaxing overcrowded prisons in Italy. Despite the sentence, it is very much likely that he will not be sent to prison … [Read more...]