Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Helio Castroneves acquitted on six counts of tax evasion]]>http://www.autoblog.com/2009/04/17/helio-castroneves-acquitted-on-six-counts-of-tax-evasion/http://www.autoblog.com/2009/04/17/helio-castroneves-acquitted-on-six-counts-of-tax-evasion/http://www.autoblog.com/2009/04/17/helio-castroneves-acquitted-on-six-counts-of-tax-evasion/#commentsFiled under: , ,



Helio Castrovenes has been acquitted of tax evasion and avoided a six-year jail sentence after a Miami jury deliberated on the case over six days. Castroneves, the two-time Indianapolis 500 winner and Dancing with the Stars alumni, was accused of six counts of tax evasion over the course of five years. Castroneves' sister and business manager, Katiucia Castroneves was also acquitted on her own tax evasion charges, along with one conspiracy count, and Helio's lawyer, Alan Miller, also avoided six years in prison when he was acquitted of a conspiracy count and three charges of tax evasion.

[Source: AP | Image: Darrell Ingham/Getty]

Helio Castroneves acquitted on six counts of tax evasion originally appeared on Autoblog on Fri, 17 Apr 2009 14:46:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>acquittedHelio CastronevesHelioCastronevestax evasionTaxEvasionFri, 17 Apr 2009 14:46:00 EST<![CDATA[Castroneves gets court date, IndyCar season in jeopardy]]>http://www.autoblog.com/2008/11/13/castroneves-gets-court-date-indycar-season-in-jeopardy/http://www.autoblog.com/2008/11/13/castroneves-gets-court-date-indycar-season-in-jeopardy/http://www.autoblog.com/2008/11/13/castroneves-gets-court-date-indycar-season-in-jeopardy/#commentsFiled under: ,

IndyCar great Helio Castroneves is in the legal fight of his life, and the timing couldn't be worse (like seven felony counts ever come at a good time). Castroneves goes on trial for tax evasion charges on March 2 in Miami, just one month before the IndyCar season begins in St. Petersberg, Florida.

Castroneves was indicted by the IRS on October 2 along with his sister/business manager and his lawyer, and the list of charges is substantial. Castroneves is going up against six tax evasion counts and one count of conspiracy with up to 35 years of jail time. Team Penske would undoubtedly love for the two-time Indy 500 champ to be free and clear of these allegations, but the successful race team is in a holding pattern due to its star racer's quandary. Helio's fame from racing and Dancing with the Stars will turn the case into a very big deal, and the courts will handle the case as such. That could mean a very lengthy trial for Helio and his crew, and a potentially embarrassing situation for Team Penske.

[Source: Auto Week | Image: Robert Cianflone/Getty]

Castroneves gets court date, IndyCar season in jeopardy originally appeared on Autoblog on Thu, 13 Nov 2008 09:02:00 EST. Please see our terms for use of feeds.

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Helio Castroneves has known only success in pretty much everything he's ever attempted, whether it be open-wheel racing or his fancy footwork on Dancing with the Stars. But the Brazilian-born driver is going to need more than quick feet and a knack for racing to get the Internal Revenue Service off his back. The two-time Indy 500 champ, along with his sister/business manager and lawyer, is in a world of legal hurt after being indicted by the IRS on six counts of tax evasion, which could send the talented driver to prison for up to 35 years. Castroneves was allegedly using an offshore bank account to hide millions of dollars from the U.S. government, which is a really bad idea, especially if you get caught. He received a $1 million driver agreement and $5 million licensing agreement from Penske racing for 2000-2002, and he allegedly stuffed the $5 million into an offshore account via a deferred royalty plan for which he wasn't eligible. For its part, the IRS seems intent on making an example out of Castroneves, saying "This case sends a clear message that the IRS is committed to vigorously enforcing the lax laws and stopping offshore tax evasion."

[Source: Market Watch, Photo by Robert Laberge/Getty]

Helio Castroneves indicted on tax evasion charges originally appeared on Autoblog on Fri, 03 Oct 2008 11:29:00 EST. Please see our terms for use of feeds.

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