Sports

Hoeness in trouble for hiding evidence

German boss could face jail term after damaging testimony.

Afp March 11, 2014

Hoeness, 62, in a shock confession told the opening of the trial that he used Swiss bank accounts to cheat on 18.5 million euros ($25.5 million) in taxes, five times the amount prosecutors had assumed. PHOTO: AFP/FILE

MUNICH: Bayern Munich boss Uli Hoeness faced damaging testimony in a tax trial Tuesday when an official charged the German football legend had withheld incriminating evidence for over a year.

New twists and additional witnesses will likely extend the high-profile trial - in which Hoeness faces a possible jail term - beyond this week, said a court spokesperson.

Hoeness, 62, in a shock confession told the opening of the trial that he used Swiss bank accounts to cheat on 18.5 million euros ($25.5 million) in taxes, five times the amount prosecutors had assumed.

Hoeness told the Munich court that he had stashed away the money during years of obsessive stock ‘gambling’, during which he had lost sight of his winnings and losses.

Prosecutors have argued that Hoeness’ initial revelation of his Zurich accounts contained irregularities and would not offer him immunity because authorities already had Hoeness in their crosshairs at the time.

Published in The Express Tribune, March 12^th, 2014.

Like Sports on Facebook, follow @ETribuneSports on Twitter to stay informed and join in the conversation.