Luka Modric accepts suspended eight month prison sentence for tax fraud

An agreement has been reached between the Spanish state prosecutor and Luka Modric over alleged tax fraud, with the player accepting a suspended eight month sentence.

It refers to two crimes of defrauding the treasury of a total of 870,728 euros and the player pleaded guilty.

According to El Mundo, the agreement has been reached after defrauding the treasury of 290,990 euros in 2013 and a further 579,738 euros from image rights by using a company called Ivano SARL.

That company was based in Luxembourg, named in honour of his son and managed through his wife Vanja Bosnic.

During the investigation, stated El Mundo, the Treasury detected that Modric could have undeclared funds in the Isle of Man.

They have concluded that there is no need to increase the fine for Modric and the agreement signed with the tax office seeks a payment amounting to 40 percent of the fee that was defrauded.

That is 348,291 euros as well as the possibility of replacing the sentence, as other footballers have done, for a fine at the rate of 250 euros per day.

Modric, who already paid one million euros at the beginning of legal proceedings, must pay a little over 400,000 euros to settle the case.