Byline: Sara Gay Forden

MILAN — Vittorio Missoni, the 41-year-old son of designers Tai and Rosita Missoni, was released from police custody Tuesday after questioning by a Turin magistrate.
Missoni had been arrested Monday and interrogated about alleged irregular billing practices in 1993 by MGP SrL, a company that arranged sponsorships for offshore motorboat racing teams.
An avid fan of the sport, Missoni was a director of MGP.
“At this point, there are no charges involved,” Missoni’s lawyer said after his client’s release.
In a statement Monday, the house of Missoni had distanced itself from the arrest, saying it involved Vittorio’s personal affairs and had nothing to do with the operations of the fashion house, for which he handles sales, advertising and marketing.
“Neither the rest of the Missoni family nor the fashion house had anything to do with offshore motorboat racing,” said Luca Missoni, who oversees production for the family-owned company, in a telephone interview Monday night.
According to judicial sources familiar with the investigation, magistrates are probing false invoicing on sponsorships arranged by MGP and another company, GPA, which allegedly amounted to some $7.5 million (12 billion lire).
Several high-level officials of Pubblitalia, the advertising agency owned by former Italian prime minister Silvio Berlusconi’s Fininvest media empire, have been indicted as a result of the investigation.
An arrest warrant has also been issued for Vittorio Missoni’s former partner in MGP, one-time offshore pilot Giovanni Arnaboldi, who is reportedly missing.