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Valentino Rossi has responded to claims he is being investigated for tax evasion by admitting that his finances are being examined.

The crux of the investigation centres around the 28-year-old Italian's re-location from his homeland to his current home in London seven years ago and Italian tax officials are believed to be searching for undeclared revenues of around 60 million Euros.

"The tax agency is rightly doing its job," five times world champion Rossi said. "My consultants are already examining the issue.

"Everybody in the world knows I have lived in London, an extraordinary city, since 2000. Naturally I go back to Italy to see my family, friends and to take holidays."

Yamaha rider Rossi currently trails Casey Stoner by 44 points in the race for the world championship