Opening Statements Set For Castroneves Tax Trial

¹²³ · Mar 3, 2009

Opening statements are expected Tuesday in the trial of Indy race car driver Helio Castroneves on federal tax evasion charges.

Castroneves said Monday he's confident he'll win his case.

"I've been working extremely hard, my attorneys; Dave, Roy, and Howard, they've been working hard. Today is the beginning of our victory. We are very confident." Castroneves went on, "I know I didn't do anything that the government is accusing and I'm trusting my attorneys."

Castroneves' sister Katiucia "Kati" Castroneves and Michigan attorney Alan Miller are also being tried on charges they schemed to hide about $5.5 million in income from the Internal Revenue Service in foreign accounts.

Castroneves, a 33-year-old native of Sao Paulo, Brazil, and the others are accused of setting up shell corporations and offshore bank accounts to conceal income generated by Penske Racing Inc. and Brazilian firm Coimex International S.A. They are charged with conspiracy and six counts of tax evasion between 1999 and 2004.

Castroneves insists he is innocent and that he relied on tax experts to handle that area of his finances. Prosecutors contend all three defendants were well aware they were violating U.S. tax law.

The trial is expected to last four to six weeks.

Castroneves faces more than six years in prison if convicted.

Castroneves won the Indy 500 in 2001 and 2002 and TV's "Dancing With the Stars" competition in 2007 with partner Julianne Hough.
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¹²³ · Apr 3, 2009

Castroneves' father says he set up Panama company

MIAMI (AP) - Helio Castroneves' father says he was the one who set up a Panamanian company that prosecutors contend was used to dodge taxes.

Establishing who controlled Seven Promotions is a key issue in the driver's Miami tax evasion trial. Prosecutors say Castroneves secretly ran the company involved in managing his income and is therefore liable for more taxes than he paid.

But Helio Castroneves Sr. testified Friday that he set up Seven Promotions. Defense lawyers have said that because the father set up the company, the driver was paying the proper amount in taxes.

The defense is expected to rest Monday in the five-week-old trial. Castroneves, a 2-time Indianapolis 500 winner and "Dancing With The Stars" champ, faces more than six years in prison if convicted.
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¹²³ · May 22, 2009

Feds drop last charge against Indy driver Helio Castroneves

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Opening Statements Set For Castroneves Tax Trial

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