Report: Italy GP money laundering probed

May 8 - Italian prosecutors are reportedly investigating suspected fraud relating to the formula one race at Monza.

Italy's La Repubblica reports that the authorities suspect tax evasion to the tune of EUR 80 million, relating to sponsorships by "dozens" of Italian and international companies.

The report added that sponsorship invoices were falsified, and that 82 people are under the investigators' microscope.

SID news agency said: "The investigators do not rule out that this system for money laundering has been used in other countries where formula one races take place."

It is claimed that former F1 supremo Bernie Ecclestone was questioned over the matter, as were FIA president Jean Todt and his driver manager son, Nicolas Todt.

About the author

Leopold

Leopold Pleijsier founded F1-Fansite.com in 2001 and has followed Formula 1 since the early 1980s. He writes about daily F1 news, race weekends, drivers and the sport’s history.

Related topics