Uh oh: Prada may be under investigation for tax evasion

Despite having quite different design aesthetics, Prada and Dolce & Gabbana may have similar approaches to paying taxes, according to recent reports. It's an approach that got Domenico Dolce and Stefano Gabbana sentenced to jail earlier this year (not that they've served any time).

Bloomberg cites a report in Italian newspaper Corriere della Sera, which says that Miuccia Prada, Prada CEO Patrizio Bertelli and accountant Marco Salomoni are named in the investigation for tax evasion, which began after the Italian luxury house disclosed undeclared taxable income.

Prada did not immediately respond to our request for comment.

This news comes nearly a month after Prada Holding reached a settlement with tax authorities, agreeing to relocate companies in the Netherlands and Luxembourg (both lower-tax regions) back to Italy and pay 420 million euros in backdated tax. Prada was seemingly off the hook, claiming it had misunderstood rules about foreign holdings. But sources say they are still under investigation.

Prada's lawyers told Bloomberg that they were "not aware of there being an investigation."

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