Castroneves tax charges

February 17, 2009

tax

ESPN reports that Helio Castoneves (Two-time Indianapolis 500 Champion) is due to appear before the courts with his sister and attorney on conspiracy and six counts of federal tax evasion charges. (Each of these seven counts carries a 5-year prison sentence).

Although the Internal Revenue Service alleges that Castroneves hid £5.5million in income through a variety of shell corporations and offshore bank accounts, Castrovenes denied the charges, claiming he relied on the “advice of lawyers and experts to handle his finances.”

Coincidentally, the trial date is the same day (March 2nd) as Barry Bond’s trial starts!

Source: http://sports.espn.go.com/rpm/racing/indycar/news/story?id=3886431&campaign=rss&source=ESPNHeadlines

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About Kris

Associate Professor in Sports Law, Staffordshire University; British Gymnastics Senior Coach

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