Court finds Nina Ricci heir guilty of tax fraud

The heiress of the fashion and perfume house Nina Ricci has been sentenced to a year in prison and ordered to pay heavy fines and back taxes for having hidden millions of euro in HSBC bank accounts in Switzerland.

The ruling was the first involving a famous name in the so-called Swissleaks scandal, in which a former HSBC employee gave authorities thousands of names of suspected tax evaders. Other trials are expected to follow.

A Paris court convicted Arlette Ricci, 73, granddaughter of designer Nina Ricci, of tax evasion and money laundering.

The court ordered a €1m fine and the confiscation of two properties worth €4m.

The court ordered Ricci, a lawyer and two companies to pay millions in back taxes.

Her lawyer is deciding whether to appeal.