Davide Rebellin is one of several Italian sportsmen under investigation for tax evasion by the Italian financial police, according to La Gazzetta dello Sport.
"We feel this is entirely unfounded," said Rebellin's lawyer Federico Cecconi. "For years he has lived and carries on activities, including training, outside of Italy."
Rebellin lives in Monaco, but grew up in the province of Verona, Italy. The 38-year-old has not raced since April this year after being handed a preliminary suspension for doping.
He finished second in the road race at the 2008 Olympic Games in Beijing, but test results released on April 28 of this year revealed that he had doped with blood booster Erythropoietin (EPO). The Italian anti-doping tribunal (TNA) has yet to issue a related suspension.
The Italian financial police, Guardia di Finanza, are also investigating Formula 1 driver Vitantonio Liuzzi and rally co-pilot Tiziano Sivieri for tax evasion.
Former professional cyclist Mario Cipollini faced similar tax evasion charges in January 2008.
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