Bayern Munich boss accused of evading 18.5 mn euros tax

Munich, March 10: A German prosecutor has accused Bayern Munich Football Club president Uli Hoeness of possible tax evasion amounting to as much as 18.5 million euros.

Besides the 3.5 million euros in the indictment, Hoeness might have evaded another 15 million euros which comes from gains in currency speculation, the prosecutor said a few hours after the beginning of the court hearing here Monday, reports Xinhua.

It was not until barely a few days before the process, which takes place from Monday to Thursday, that Hoeness submitted relevant documents, according to the prosecutor. Hoeness said in court that he regretted his wrongdoing deeply and will pay all taxes.

The 62-year-old president has insisted that he alerted tax authorities in January 2013 voluntarily. Therefore, he should be granted impunity, according to the law.

The four-day process will focus on one central theme: Whether Hoeness alerted the tax office in time to avoid a penalty. If proven guilty, he may face punishment ranging from a fine to a jail term up to 10 years.

IANS