Posts Tagged ‘tax evasion’

Helio Castroneves off the Hook!

Tuesday, May 5th, 2009

Dancing With The Stars champion Heli……. Oops, I didn’t mean to say that. No, really – scratch that…

Two-time Indy 500 winner Helio Castroneves was acquitted of tax evasion. Helio was accused of failing to file $5.5 million in income over a 5 year period.

Helio Castroneves

Welcome to America! I’m sure that is just change for him. If Uncle Sam asked how much I made this year and I was making millions, I would try to keep as much of as possible too. Helio worked hard for his money. Unlike those losers in NASCAR, he can turn left and right. Did you see those dance moves he had on DWTS? I hope he claimed the sweet disco ball on that he won on the show……. Wait, ignore that last little bit. Oh, forget it.

Federal jury finds the two-time Indianapolis 500 winner not guilty on tax evasion charges.

Castroneves, his sister and business manager Katiucia Castroneves and motor sports lawyer Alan Miller were accused of helping the driver evade more than $2.3 million in U.S. taxes.

The jury acquitted Castroneves and his sister on the tax-evasion counts and was hung on one count of conspiracy against each of them. Miller was acquitted on his counts of tax evasion and conspiracy.

Outside the Miami courtroom, Castroneves looked to the sky and said, “I just want to thank God, and my fans, and all of the people who prayed for me.

“I love racing, that’s my whole life,” he said, choking back tears. “Instead of going to Disneyland, I want to go to Long Beach and race.”

Prosecutors will review their options on the hung conspiracy charge. Castroneves won the Indianapolis 500 in 2001 in his first attempt and then won it again the following year — the only driver to win the prestigious race in his first two tries.

While Castroneves’ racing success and gregarious manner off the track made him a popular driver, his fame shot higher in late 2007 when he won the “Dancing With the Stars” television competition with partner Julianne Hough.

His return to racing is a major boost for the IndyCar Series, and “we look forward to having Helio back on the grid here at Long Beach,” said Brian Barnhart, president of competition and racing operations for the series’ parent, the Indy Racing League.

Castroneves’ ride is considered one of the most coveted in motor sports in light of Penske’s strong record in the IndyCar Series, including 14 Indianapolis 500 victories alone.

Castroneves himself has 14 wins in 114 starts and race earnings of $13.2 million in the series. He also nearly won his first series championship last year but came up 17 points short of title winner Scott Dixon.

The tax-evasion case mainly revolved around income from a $2-million sponsorship deal Castroneves had with the Brazilian firm Coimex and the $5-million licensing deal he reached with Penske in late 1999. He and the other two defendants faced more than six years in prison if convicted of the alleged conspiracy and tax evasion between 1999 and 2004.

Good Luck Helio – but we still have money on our friend Danica…

luw-racing