Flavio Briatore's Yacht Seized by Italian Police

Flavio Briatore doesn't seem to catch a break these days, as he runs from one troubled situation to another. According to some recent reports in the Italian media, the Italian's yacht has been seized by the police. We're talking about the same yacht that Briatore used to host Bernie Ecclestone through the duration of the recently ended Monaco Grand Prix.

Due to the fact that his new house is currently being built, Briatore moved in on his yacht with his wife Elisabetta and new son Falco. The 60-metre Force Blue was spotted in Monaco last weekend, during the F1 race in the Principality.

According to the reports, police boarded the yacht on Thursday. “They had followed the yacht with high speed boats to the port of La Spezia, near the northern city of Genoa,” reported the GMM news agency, citing Italian sources.

“Local prosecutor Walter Cotugno ordered the boat be impounded on the suspicion it is improperly registered as a charter. Investigators suspect Briatore has registered it in the Cayman Islands, with a hire price of 275,000 euros a week, in order to obtain a tax break and to avoid paying sales tax when anchoring in European harbours.”

“They suspect the yacht is not chartered at all and in fact is used only by Briatore's family,” added the report.

Briatore recently ended a legal dispute with the International Automobile Federation (FIA), signing an agreement by which he commits to staying out of Formula One by the end of the 2011 season.