Prison term in France for Ricci heiress over tax fraud

A French court Monday sentenced Arlette Ricci, heiress to the French fashion designer Nina Ricci's estate, to three years in prison and handed her a million-euro fine for tax fraud.

Ricci, who was not present in court for the verdict, was exposed in the so-called "SwissLeaks" cache of secret data of HSBC clients that was passed to French authorities.

Two of the three years in prison were suspended, meaning Ricci would have to serve them only if she re-offends. The Paris court said Ricci had hid some 18.7 million euros (19.8 million dollars) she inherited from her father from the French taxman "for more than 20 years with particular determination."

The court also confiscated properties in Paris and Corsica, estimated to be worth around four million euros. Ricci's lawyers said they would wait to see the full details of the verdict before deciding whether to appeal, but slammed the trial.

"Justice was done under frenetic, brutal pressure... by the prosecution," Jean-Marc Fedida said, adding he thought the aim was to have a high-profile defendant "as a sort of warning to all those whom we think have accounts abroad."

Apart from the trial, authorities are also claiming from Ricci some 10.5 million euros in unpaid taxes, penalties and fines. France has vowed to crack down on tax cheats, particularly after a major scandal in 2013 saw former budget minister Jerome Cahuzac charged with tax fraud.

Cahuzac, who had among other things been tasked with fighting tax evasion, was found to have an undeclared foreign bank account containing some 600,000 euros. (AFP)