Jun.23 (GMM) Italian police have handed back Flavio Briatore's luxury yacht.

The former Renault boss' 60-metre boat 'Force Blue' was seized a month ago on suspicion of tax fraud.

But according to a report in the Spanish newspaper Diario Sport, Briatore has taken back possession with two conditions.

The first is a deposit of 5 million euros, and the promise that the boat will not leave Mediterranean waters.

The Sunday Times said in May that the evasion of millions in taxes could cost Briatore, expelled from F1 for the 2009 crashgate scandal, EUR 40 million in fines or a six-year prison sentence.

The 60-year-old denies any wrongdoing.

"It was a big television production by the police and completely unfair, so we are fighting them now," he told the Telegraph.

"That boat was a commercial boat with a 50 million euro turnover in the past four years, but the police seem to think that was all for me."

Briatore does not deny using the boat, and claims he is supported by seven Italian MPs who have written to the government "to find out what happened".

"Of course, I use the yacht, because if you are going to own a business, it may as well be one you can enjoy -- otherwise, I would have bought a funeral home."

Latest F1 News - Mobile version

26 Feb: New Ferrari not quickest in field - Domenicali 26 Feb: Red Bull still best in 2013 - Tost 26 Feb: 2014 French grand prix 'possible' - Prost 26 Feb: Danica Patrick 'not interested' in F1 switch 26 Feb: Report - Gilles Simon working on F1 engine for Honda 26 Feb: Gutierrez plays down link to Carlos Slim 26 Feb: Caterham exhaust 'legal' insists van der Garde 26 Feb: McLaren replaces Mercedes-bound Lowe 25 Feb: 'Engine maps' trouble for Red Bull, Lotus - report 25 Feb: Mercedes-bound Lowe to miss 2013 opener - report 25 Feb: Mercedes 'in group of teams' behind Red Bull - Lauda 25 Feb: Gutierrez expects Hulkenberg to beat him early in 2013 25 Feb: New Ferrari 'much better' than 2012 - Massa 25 Feb: Teams 'will adapt' to new tyre situation - Gutierrez 25 Feb: Tight rules make today's F1 cars 'the same' - Forghieri 25 Feb: Williams removes controversial exhaust trick 25 Feb: Contract 'conflicts' cause of Marussia test snub - Razia 25 Feb: Lotus to fight Red Bull for title - Gutierrez 25 Feb: Marussia 'ahead of Caterham' - Chilton 25 Feb: Sutil will not stay in F1 as test driver The latest F1 News - Mobile Version