Italian GP hit with money laundering probe!

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Michael Delaney 08/05/2018 at 09:24

A storm may be brewing for Formula 1 and the Italian Grand Prix following reports out of Italy alleging that prosecutors have uncovered a sophisticated money laundering scheme linked to the sport.

According to La Repubblica, an investigation initiated by authorities back in 2012 has concluded that tax evasion and a system of false invoices evolving around driver sponsorship contracts was set up by a network of Italian GP insiders.

The report added that 82 people are currently under investigation and could be indicted .

La Republicca also reported that former F1 supremo Bernie Ecclestone has been questioned over the matter, as was Nicolas Todt, an active driver manager and the son of FIA president Jean Todt.

It is believed Todt, who currently handles the interests of Sauber's Charles Leclerc, is suspected by authorities of having inflated the value of a personal sponsorship deal involving at the time Marussia's Jules Bianchi.

More troubling, Italian prosecutors conducting the investigation fear the complicated "shadow" system they believe they have uncovered may have been replicated by other European countries hosting an F1 Grand Prix.