Hernan Crespo is under investigation by Italian police after being accused of tax evasion and false accounting.
The former Chelsea striker's home, and the HQ of his ex-club AC Milan, were raided on Tuesday morning as part of operation 'Fuorigioco' ('Operation Offside'), according to The Independent.
In a post on Facebook, Crespo - now manager of Modena in Serie B - protested that he was innocent, writing: "Dear friends, in my career I have always been used to attacking and I will continue to do so.
"I don't need to defend myself: I AM TOTALLY UNCONNECTED to what happened today, related to the investigation by the prosecutor.
"I am certain that there will be a total DISMISSAL [of the case]. Thanks for all the many messages of respect and faith."
The Argentine spent five years with Chelsea, helping them to win the league title under Jose Mourinho in 2005-06.