Brazil boss Scolari named formal suspect in tax fraud investigation by Portugal

Brazil boss Luiz Felipe Scolari has reportedly been named as a formal suspect in a tax fraud investigation and a criminal case has been opened against him in Portugal.

The case is speculated to be linked to Scolari's time at Portugal when he managed their national team from 2003 to 2008, although he has not been arrested or charged yet.

According to a statement Scolari has been named an 'arguido' or suspect as part of an investigation into events between 2003 and 2008 concerning a possible breach of tax regulations, the BBC reported.

Media reports have revealed that the investigation is focused on payments of 10 million-dollars made to Scolari during his time as Portugal coach and a published document has alleged that Scolari did not declare the income, which is said to stem from image rights.

Media reports revealed that Scolari transferred money through companies based in the Bahamas and other tax havens to a bank account in Miami.

However, Scolari said in a statement that he had always declared his earnings in all the countries he has worked in and that he is absolutely convinced of the correctness of his declarations.

The Brazilian further mentioned that if there is something wrong then it is not of his doing.