Four-Year Prison Sentence for Silvio Berlusconi

MILAN: Former Italian PM Silvio Berlusconi has received a four-year prison sentence by an Italian court for tax fraud related to the acquisition of broadcast rights to U.S. feature films and TV series for Mediaset in the late ’90s.

Berlusconi is expected to appeal the verdict, which also called for damages of 10 million euros to be paid to tax authorities, according to wire reports. There are two rounds of appeals before the verdict is finalized, and reports indicate that it is unlikely he will ever serve time in prison. Berlusconi has also been banned from holding public office for three years.

Prosecutors maintained that from 1994 to 1999, Berlusconi and other Mediaset executives used two offshore companies to acquire U.S. content for Mediaset at inflated prices, creating illegal slush funds and reducing their tax liabilities.