The inquiry by prosecutors in Naples is based on a recorded phone conversation between Lotito and an official of the lower division Ischia club.
The allegations regard the distribution of funds to clubs.
Lotito is also a member of the Italian football federation’s board of directors, and the FIGC offices were searched by authorities under orders from Naples prosecutors. The Lazio club offices were also searched.
Lotito labeled the investigation “defamatory and slanderous.”
“I’m confident that the justice system, of which I have always had the utmost faith in, will clear my position positively so as to transform my accusers into the accused,” Lotito said.
FIGC president Carlo Tavecchio was also questioned during the raids, and was cooperating with authorities, the federation said in a statement. Tavecchio is not believed to be under investigation.
In February, Ischia general director Pino Iodice publicly released audio of a call with Lotito in which the Lazio president expressed concern that Carpi could be promoted from Serie B.
Lotito’s concern was that a small club like Carpi could drag down the global appeal of Serie A.
Carpi went on to win Serie B and earn a first-ever promotion to the top flight.