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JUNE 27, 2001

Former Minardi boss subject of financial investigation

THE former general manager and team principal of the Minardi team Gian Carlo Minardi is the subject of an investigation by the Italian fiscal authorities.

Minardi, who along with Gabriele Rumi sold the team to Australian businessman Paul Stoddart before this season, is having his financial activities investigated from the period 1993 to 1996 - when he was chief of the team.

Minardi, 53, has denied any wrongdoing and distanced the investigation from the current team, which has been re-named European Minardi by Stoddart.

"We regret very much the circumstances in which our accountant Stefano Sangiorgi finds himself," said Minardi in a statement on Wednesday.

"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 still works with the European Minardi team as a director and focuses particularly on the development of young drivers in their ranks.