Italian World Cup winning captain Fabio Cannavaro is under investigation for a suspected major tax fraud, the country's financial police announced today.

The former centre-back, who led Italy to glory in Germany in 2006, has had assets worth 900,000 euros (Dhs 4,196,336) seized in connection with an investigation into a luxury boat rental business that Cannavaro ran with his wife.

In a statement, prosecutors in Cannavaro's home city of Naples, said they suspected that three multi-million-euro vessels supposedly available for rental through the company were in fact exclusively for the couple's private use.

As such, Cannavaro and his wife, Daniela Arenoso, 40, should have declared them as taxable assets and not been able to benefit from the various tax breaks for which only companies are eligible.

The former Italy international responded to those claims on his Facebook Page, stating that the reports referred to " the tax regime of a company that dealt with rental of pleasure boats, represented by Miss Arenoso."

Cannavaro's statement also outlined that the pair "are sure of their correct tax position and they have instructed their lawyers to provide any necessary clarification to the Judicial Authority and contesting soonest the seizure measure carried out today."

Cannavaro lined up for Al Ahli in the 2010-2011 season making 16 appearances, before joining Cosmin Olaroiu's backroom team as his assistant manager helping guide the Red Knights to UAE League, UAE Cup and UAE Super Cup titles last season.  

He previously played for Inter Milan, Real Madrid and Juventus.