Minardi’s accounts under investigation

Gian Carlo Minardi has confirmed that he is under investigation by the Italian authorities over his financial activities from 1993-'96, when he was the team principal of the Minardi Formula 1 squad

Jun 28, 2001, 11:31 AM

Minardi is co-operating with Italy's fiscal authorities over what is believed to be a tax-related issue, and denies any wrongdoing. He also says that the investigation has no affect on the current management of the Faenza-based European Minardi F1 squad, which was bought out by Australian aviation magnate Paul Stoddart in January of this year.

Minardi himself is still a director of the team, in charge of young driver development.

"We regret very much the circumstances in which our accountant Stefano Sangiorgi finds himself," said Minardi. "We hope that the situation can be resolved as soon as possible. We are confident and trust fully in the authorities to do their work speedily."

Minardi entered Formula 1 in 1985 and has contested over 250 grands prix. Despite lacking the funding of its rivals, the Italian minnows finished seventh in the 1991 World Constructors' Championship.