Two-time Formula 1 champion Emerson Fittipaldi faced 145 lawsuits for a total of 8.6 million euros, TASS reports.
Safra bank officials accuse the 73-year-old Brazilian of hiding his real assets.
According to the bank's lawyers, the former race car driver leads a luxurious life in the United States and is fraudulently evading his financial obligations.
Fittipaldi's lawyers, in turn, say that the athlete is currently in dire financial straits. The racer has also denied creditors' allegations.
Note that in 2016 Fittipaldi's debts amounted to 6.5 million euros. Then his property was confiscated, including trophies and racing cars.
Earlier it was reported that the two-time world champion in racing in the class "Formula 1" Fernando Alonso will resume his career in the Renault team.