Juventus say they are cooperating with investigators after Italian financial police searched the Serie A club's offices seeking information about player trading between 2019 and 2021.
The Turin club has said chairman Andrea Agnelli, vice-chairman and former player Pavel Nedved, and chief financial officer Stefano Cerrato, along with former Juve officials, are under investigation.
Juventus, Italy's most successful club with 36 league titles, say they believe the club has "acted in compliance" with the laws.
Turin prosecutor Anna Maria Loreto said in a statement released late on Friday that the investigation is looking into whether senior officials at Juventus gave false communications to investors and issued invoices for non-existent transactions.
"Several transfer operations of professional players and the services rendered by some agents involved in the related intermediation are under consideration," Loreto said.
In September, Juventus said that Italian market regulator CONSOB was looking into revenue received from player trading.
Italy's Federal Prosecutor last month opened an investigation into a number of player transfers in Serie A.