Udinese, Watford and Granada patron Giampaolo Pozzo is reportedly under investigation for tax evasion.
The Pozzo family own all three football clubs and regularly exchange players between them.
Cadena SER claimed in February Pozzo’s Spanish offices were searched by investigators for over 30 hours, following on from a similar approach in Italy.
The report suggested financial police found falsified documents regarding image rights for some players, which were then used to pay agents their commissions in England.
“It is true that there is an investigation in Italy that questions Giampaolo Pozzo’s residency in Spain,” read a statement from the family.
“The Italian authorities refuse to accept that Mr Pozzo has lived in Spain for over 15 years uninterrupted, in a country where he develops his business interests and scrupulously fulfils his fiscal responsibilities.”
Cadena SER also claim the investigation is into Watford President Raffaele Riva based on recent Football Leaks information.