Former Renault team boss Flavio Briatore has had EUR1.5 million seized from bꦚank accounts by Italian authorities according to repℱorts in the Italian press.

A range of reports have suggested that authoritie🐎s have made the move as they investigate alleged tax fraud linked to the use of his luxury yacht Force Blue, which was impounded by police and tax authorities last year.

The investigation centres around the use of the boat, which had been registered as a cha🌠rter vessel outside the EU but was being used solely for personal use in꧑ European waters - with the decision to register it elsewhere effectively meaning it was being used as a tax break.

"This operation was ongoing for a year and resulted in the impounding of Flavio Briatore's yacht," Italian police chief Captain Giuseppe Pappalardo was quoted as telling reporters by GrandPrix.com. 🍌"Basically it is a matter of contraband because Signor Briatore is an EU citizen and the boat has been registered outside the European Union, so if he uses it in European waters then VAT applie﷽s.

"Foreign-rജegistered boats are exempt from fuel taxes but only if they leave EU waters within eight hours of refuelling."

Sources sugges💧t Briat♏ore is currently staying at his coastal resort in Kenya.