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From cnn.com,

ROME, Italy (Reuters)
-- Italy's tax agency is investigating former world motor cycling champion Valentino Rossi for suspected tax evasion, an agency spokesman said on Wednesday.





The spokesman said the agency was examining possible tax evasion on undeclared revenues of 60 million euros ($82.61 million) from 2000 to 2004.
The investigation is linked to Rossi's decision in 2000 to take up residence in Britain to take advantage of favorable tax conditions.
"The tax agency is rightly doing its job," Rossi said in a statement released through Italian news service ANSA. "My consultants are already examining the issue.
"Everybody in the world knows I have lived in London, an extraordinary city, since 2000. Naturally I go back to Italy to see my family, friends and to take holidays."
However, the 28-year-old lost out to American Nicky Hayden in 2006 and is second in the 2007 standings behind Casey Stoner of Australia with seven races left.
His Yamaha team refused to comment while Rossi's personal management were unavailable.
His father, Graziano Rossi, told Gazzetta Dello Sport's Web site: "I know nothing about this story and I also don't know where Valentino is."
 
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