Brazil Federal Court Freezes Neymar’s Assets in Tax Evasion Ruling

Barcelona’s star Neymar had some of his possessions blocked by the competent authorities in Brazil, as the federal court in Sao Paolo rejected an appeal by the player last week and has initiated issuing warrants to freeze the assets.

According to local media reports, the assets that have been frozen include a jet, a yacht and several other properties in Brazil. They are estimated to almost $50 million.

In 2015, Neymar, as well as his family and related businesses were found guilty of tax evasion in the country in the period between 2011 and 2013. The evaded Brazil taxes at the time when Neymar played for the local football club Santos have been reported to be worth $16 million. Neymar and his family have denied any wrongdoings.

This is not the first time when some assets of Barcelona’s star have been frozen by competent authorities. In September 2015, the courts blocked Neymar’s assets. Now, according to media reports, the player’s appeal against the frozen properties was rejected last week.

The court have previously imposed a €100,000 fine to Neymar and his father in January 2016. The fine came as a sanction for unpaid taxes in the period 2007-2008.

The news of the court’s decision to block some of the football player’s assets was confirmed by one of the auditors of the Brazil’s federal tax agency – Iagaro Jung Martins. The latter said in an interview for a reputable media that the striker is not likely to go to jail in case that he pays the taxes owed.

Auditor Martins explained that Neymar would be free to appeal that decision, too, but it is a step forward. He added that the case would be closed after the player pays what he owes to his country, as Brazil’s legislation is not “too harsh” on such matters.

This is not the first time when the 23-year-old Neymar has been related with tax evasions, so the assets seizure is the latest one in a series of unfortunate events from the Brazilian striker off the pitch. Earlier in February, the Barcelona player appeared to Spanish court in a case related to similar actions at the time of his transfer from Santos to Barcelona in 2013.

The player has been alleged by Brazil-based investment fund DIS to have evaded funds at the time of his transfer to Barcelona three years ago. The afore-mentioned firm have invested in the striker earlier, so it was pointed as an owner of 40% of Neymar’s total transfer amount.

The announced 2013 deal’s price amounted to about $74 million, which means DIS were granted $18.5 million. The remaining $55.5 million were reported to have gone to a company owned by the player’s father.

DIS, however, claim they have been financially hurt by the transfer deal. Investigations headed by competent authorities in Spain showed that the football grand have spent nearly $90 million to acquire the player in 2013.