Castroneves indicted on tax evasion

Lap3Forever

Lap3Forever

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MIAMI (TICKER) —Helio Castroneves, a two-time winner of the Indianapolis 500, was indicted Thursday on tax-evasion charges.

The famed Brazilian driver was indicted along with a relative and an Ohio attorney, authorities said. Castroneves, who owns a mansion in Coral Gables, is charged with failing to pay more than $5 million in taxes over a four-year period.

Castroneves’ sister, Kali, and his lawyer, Alan Miller are accused of assisting him in the alleged tax-evasion scheme. The three defendants are expected to surrender to authorities and appear in court Friday morning.

The 33-year-old Team Penske driver won the Indianapolis 500 in 2001 and 2002, becoming the fifth man to achieve the feat in consecutive years. He finished second to teammate and countryman Gil de Ferran in 2003.

Castroneves gained American fame last year after winning the fifth season of ABC’s reality television show “Dancing with the Stars” with partner Julianne Hough.

http://sports.yahoo.com/nascar/news?slug=txcastronevesindictment&prov=st&type=lgns
 
And I do believe the lawyer is the one Kyle Busch fired after botching up the negotiations with Hendrick.

IIRC, Miller is also Jimmy Johnson's lawyer, and, I think, Casey Mears, also.

Makes you go, mmmmmmmmmmmm
 
I don't know how this is playing out in National news, but locally they have reporters outside of his house in Coral Gables. It seems to be very big news. If it's true it's very disappointing. We hear what a "great guy" he is and how he "gives back" so often.
 
Helio was a big name before, but mainly in the open wheeled ranks of racing. Once he did Dancing with the Stars, he became a huge success and thus, his popularity soared. Had he not done the Stars thing, I don't think this would be nearly as big. Outside of racing and specifically Indy cars, who in the world has heard of Dan Weldon? Big in racing, not so well known outside of it. Helio is big news period.
 
It constantly blows my mind when people who have more than enough money to pay their taxes get caught not paying them. These people should have learned from guys like Willie Nelson and many others, some of whom actually did jail time.

Perhaps he just simply subscribed to the old racing adage of "If you ain't cheatin', you ain't tryin'".

Some people might say that this is exactly what happens when the democrats get their way and heavily tax the richest people in our country.

I'm not saying either of those things. I'm saying the idiot should of just paid his damn taxes and continued living a blessed life. But what do I know?
 
This is the part that seems like his biggest problem.

The indictment charges that Castroneves illegally concealed income from Penske Racing Inc. and the Brazilian firm Coimex International S.A. Neither company is charged with any wrongdoing.

In Penske's case, prosecutors say Castroneves was to be paid $5 million in exchange for rights to use his name, likeness and image. The money was initially supposed to go to a Panamanian shell corporation, but then was diverted to a Dutch entity called Fintage Licensing.

Fintage was set up as a "deferred royalty plan" in which U.S. tax payments can be delayed, which is only legal if Castroneves had no relationship or control over it. Prosecutors say he did have control and that false statements were made to Penske about the relationship.

Coimex paid Castroneves $600,000 between 1999 through 2001 for sponsorship contracts, but he only paid taxes on about $50,000, prosecutors said.

Katiucia Castroneves transferred some of the hidden money to a Swiss bank account she controlled with her brother, court documents show.
 
What is it about these people who make millions and their passion for avoiding taxes? Leona Helmsey for instance.

If I hit the 200 million lottery tonight I'll gladly kiss the feet of the IRS agent I give a 100 mil check to pay the taxes.

Then I'll gargle and burn my lips off, but what the hey, I can buy new ones!!!
 
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