ReutersBrazil coach Carlo Ancelotti. (Reuters photo) Brazil soccer coach Carlo Ancelotti was on Wednesday sentenced to a one-year prison term for tax fraud when he was Real Madrid manager in 2014, a Spanish Court in Madrid court ruled. The Madrid court also fined Ancelotti €386,000 ($452,187). In Spain a judge can suspend a sentence of less than two years for first-time offenders. The court, however, cleared Ancelotti of the fraud allegation for the 2015 tax year.Will Carlo Ancelotti be Sentenced?Ancelotti is the latest in a string of major soccer profiles to face a crackdown by Spanish authorities over unpaid taxes, although none have actually been sent to prison so far.Prosecutors alleged the Italian created a system of shell companies to hide extra earnings during his first spell as Real Madrid manager in 2014 and 2015, notably through image rights. They said the 66-year-old, one of the most successful managers in football history, failed to pay more than one million euros due to undeclared earnings in those years, seeking four years and nine months in jail against him.Ancelotti denied having intentionally committed fraud at his highly publicised trial in April, saying he never realised a scheme allowing him to collect some of his salary in image rights would see him pay less tax.Live EventsBut Carlo Ancelotti, who no longer lives in Spain, will not serve jail time because the sentence is less than two years and he has no criminal record. Who is Carlo Ancelotti?Ancelotti is one of soccer's most successful coaches. He is the only coach to have won the Champions League five times, three with Madrid and twice with AC Milan, and the only coach to have won domestic league titles in England, Spain, Italy, Germany and France. Carlo Ancelotti is a former Chelsea, Bayern Munich and Paris Saint-Germain boss.FAQsQ1. How many Champions League Carlo Ancelotti has won?A1. Carlo Ancelotti is the only coach to have won the Champions League five times, three with Madrid and twice with AC Milan.Q2. What are Carlo Ancelotti's achievements?A2. Carlo Ancelotti is the only coach to have won domestic league titles in England, Spain, Italy, Germany and France.(You can now subscribe to our Economic Times WhatsApp channel) Read More News onCarlo AncelottiReal MadridBrazilBrazil newsBrazil latest news (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onCarlo AncelottiReal MadridBrazilBrazil newsBrazil latest news(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless Explore More Stories123