German prosecutors open another criminal probe into Volkswagen, this time into potential tax evasion over CO2 irregularities in about 800,000 cars in Europe.
If you're going to sell a Lampredi Ferrari engine for $610,000, be a dear and actually pay the taxes on it, lest you get sentenced to two years in the clink.
Former Saab Chairman Victor Muller may be called in for questioning as part of an official inquiry into suspected tax evasion by three of the automaker's former executives. A prosecutor has officially named former CEO Jan-Ake Jonsson and two other executives in the investigation, and official court documents say that Muller will be called in by the Financial Crimes Unit. Accordin
The Associated Press reports three former Saab executives have been arrested on charges of accounting fraud. Swedish prosecutor Olof Sahlgren has refused to identify the individuals, but says they're suspected of attempting to evade taxes by falsifying Saab accounts between 2010 and 2011 during the Spyker years. Zach Bowman
Italy is the wound that continues to drain blood from the body financial of Italian supercar and sports car makers. The wound was opened by the country's various financial police who decided to get serious about superyacht-owning and supercar-driving tax cheats a few years ago, by noting their registrations and checking their incomes. When it was found that a rather high percentage
About a month ago, we brought you news of a monstrously powerful one-off from Koenigsegg called the Agera R BLT. At the time we reported that the car was being built for a Chinese man of some great wealth and that the $2 million price tag represented the floor for a custom job like this.
Italy is dealing with a financial crisis that placed it just behind Greece on the list of dangers to the stability of the euro, and with €1.9 trillion in public debt the country hasn't hesitated to turn over its couch pillows searching for every contribution. It started a couple of years ago with the Guardia di Finanza targeting superyacht owners, and it has continued with the financial police going after supercar owners.
Former Volkswagen CEO Bernd Pischetsrieder has successfully managed to avoid tax evasion charges in Germany by agreeing to donate around $193,000 to various charities, according to Automotive News. Pischetsrieder had been charged with evading more than €230,000 in taxes between 2000 and 2003 (around $322,500 USD) by transferring interest on loans between various prop
The Italians don't play when it comes to tax evasion and financial crimes, with a special branch of the army called the Guardia di Finanza solely devoted to busting those who play with numbers. Flavio Briatore is one of the most recent big fish caught in the Guardia's net; his $22-million yacht, Force Blue, was impounded over the weekend off the coast of the Italian Riviera.
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 ta
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.
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