Max Biaggi has been accused of evading 18 million euros in tax between 2011 and 2012 – and according to the prosecution, he could face up to a year in prison after fraudulently moving his address to Monaco.
Italian prosecutor Giuseppe Olivo has said that Biaggi moved his residence fraudulently in order to “avoid paying taxes on income.”
The prosecution estimates that the crime was committed up until December 31, 2012, and is focusing on evasion between 2011 and 2012. During that time, Biaggi Racing was responsible for the management of the Italian ex-racer’s image rights, which were then transferred to Vuzuela International Sul. According to the prosecutor Olivo, during this period the former pilot transferred his residence to the Principality of Monaco to avoid paying up to 18 million euros of income tax.
Former Formula One driver Giancarlo Fisichella said: “I have known Max Biaggi for 20 years, since the beginning of my career when I was still living in Monte Carlo. I have not been there since 2003 but even today we continue to see each other when I go to work, I call and see it. I know the area where he lives and I know his children go to school there. “