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Ciprianis Plead Guilty to Tax Evasion

The two heads of the Cipriani clan today pleaded guilty in New York state court in Manhattan to filing false corporate tax returns after evading about $10 million in city and state taxes. According to Bloomberg, Guiseppe Cipriani and his father, Arrigo, understated their taxes by making sham deductions—the U.S. company falsely claimed to have paid the parent company $30.7 million from 1998 to 2004 for the right to use the family name and other trademarks. The men will receive probation at the October 10 sentencing and will have to pay back the taxes. Their business will be monitored until 2011 to ensure accurate tax payments. Guiseppe Cipriani, C.E.O. of Cipriani USA, pleaded guilty to a misdemeanor charge; his father pleaded guilty to a felony. The Cipriani family owns some of the city's most popular event venues, including Cipriani 42nd Street, Downtown Cipriani, the Rainbow Room, and Cipriani Wall Street.
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