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Indy Champ Faces Tax Evasion Charges

Last updated on Friday, October 3, 2008

(MIAMI, FL) Two-time Indianapolis 500 champion Helio Castroneves will appear in Miami this morning to answer federal tax evasion charges.

A grand jury in Miami indicted Castroneves, his sister Katiucia and Castroneves' business manager and attorney Alan Miller. Castroneves and his sister have been charged with conspiracy and six counts of tax evasion from 1999 to 2004. Miller was charged with conspiracy and three counts of tax evasion.

The indictment says Castroneves received $6-million dollars in salary and proceeds from a licensing agreement with Penske Racing over a three-year period, but reported only $1-million dollars on his tax returns.

The three are accused of using a Panamanian shell corporation to fraudulently shield the money Castroneves earned from driving. The indictment also alleges that Castroneves earned an additional $600,000 dollars from a sponsorship with a Brazilian company but reported only $50,000 dollars in earnings on his tax returns.

The Castroneves siblings face up to 35 years in jail if convicted on all charges while Miller could be imprisoned for up to 20 years.

Castroneves won the Indianapolis 500 in 2001 and 2002. He became a pop-culture phenomenon when he won the "Dancing With The Stars" television competition last year.

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