![]() "You don't send millions of dollars to a company you don't own or control," Axelrod said.īesides the Penske and Coimex money, Castroneves was charged with claiming thousands of dollars in improper tax deductions and failing to disclose as income Hugo Boss clothing and airline tickets he received.įacing dozens of TV cameras outside the courthouse, Castroneves sobbed. ![]() Prosecutor Matt Axelrod, however, said it made little sense for Castroneves to sign away $5 million to Seven if he had no control. All he did was drive - and drive he did," Black said. "Does anybody really think Helio Castroneves really made a financial decision. Castroneves attorney Roy Black told jurors in closing arguments that such deals are common - and perfectly legal - for athletes who have relatively short careers and face injury or worse at any moment.īlack also said Castroneves had only a slight understanding of his financial affairs and relied on professionals to deal with them. Instead, the Penske payments were eventually invested in a deferred compensation deal with the Dutch firm Fintage Licensing B.V. taxes on the full $5 million from Penske even though he has never actually received the money. If it was, an Internal Revenue Service agent testified that Castroneves owed U.S. Prosecutors called that a lie, showing jurors numerous documents in which Castroneves claimed Seven as his own. The elder Castroneves said his son never owned it. income taxes, but Castroneves' father testified he created Seven to boost his son's image in Brazil. Prosecutors called it a shell corporation set up primarily so Castroneves could dodge U.S. Castroneves won the TV dance competition in 2007.Ĭentral to the case was the ownership of a Panamanian company called Seven Promotions. Attorney's office, said prosecutors will review all of the options on the hung conspiracy charge "to determine how best to proceed."Ĭastroneves' lawyers said it would be "illogical to proceed" with refiling the conspiracy count.Ĭastroneves, a two-time Indianapolis 500 winner and one of the Indy racing circuit's most popular drivers, was temporarily replaced on Team Penske by Australian Will Power pending the outcome of the case. ![]() ![]() The case mainly revolved around income from a $2 million sponsorship deal Castroneves had with the Brazilian firm Coimex and his $5 million licensing deal he reached with Penske Racing in late 1999.Īlicia Valle, spokeswoman for the U.S. Penske officials did not immediately offer a response, but planned to hold a news conference later in the afternoon.Īll three faced more than six years in prison if convicted of conspiracy and tax evasion between 19. He said he planned to leave Friday night for Los Angeles, where he will race for Team Penske. "Instead of going to Disneyland, I want to go to Long Beach to race," he said. "I just want to thank God and my fans, and all of the people who prayed for me," he said outside the courtroom, still fingering a rosary.Ī few moments later, Castroneves said that he can't wait to suit up for this weekend's Toyota Grand Prix of Long Beach. The jury deliberated six days after a six-week trial.Ĭastroneves, speaking in his native Portuguese, expressed profound relief. Michigan motorsports attorney Alan Miller, 71, was acquitted on all three counts of tax evasion and one count of conspiracy. The jury also acquitted Katiucia Castroneves, 35, who is her 33-year-old brother's business manager, on the tax evasion counts but also hung on the conspiracy. When the sentence was read, Castroneves broke into sobs and leaned against his attorneys for support. income taxes.Ī federal jury acquitted Castroneves on six counts of tax evasion but hung on one count of conspiracy. Brazilian race car driver and " Dancing With The Stars" champ Helio Castroneves was acquitted Friday of most charges that he worked with his sister and lawyer to evade more than $2.3 million in U.S.
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