![]() ![]() I'm very thankful to have received a fair trial. "I'm a foreign person and I've been judged in a foreign country. "You don't send millions of dollars to a company you don't own or control," Axelrod said.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. Driver, not financial ace, lawyer saysīlack 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.Ĭastroneves's 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. 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. The Brazilian raised his profile considerable outside of racing circles by winning a Dancing With the Stars 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 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 the $5 million licensing deal he reached with Penske Racing in late 1999.Īlicia Valle, spokeswoman for the U.S. "We couldn't be happier for Penske Racing, Helio Castroneves and his family and look forward to having him back on the race grid at Long Beach," the statement said.Īll three faced more than six years in prison if convicted of conspiracy and tax evasion between 19. In a statement, Penske welcomed him back. "Instead of going to Disneyland, I want to go to Long Beach to race," he said. He said he planned to leave Friday night for Los Angeles, where he will race for Team Penske. I do love this country.'-Race driver Helio CastronevesĪ few moments later, Castroneves said that he can't wait to suit up for this weekend's Toyota Grand Prix of Long Beach. 'I'm very thankful to have received a fair trial. The deliberations took six days after a six-week trial. ![]() 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 charge. ![]() "I just want to thank God and my fans, and all of the people who prayed for me," he said in Portuguese outside the courtroom, still fingering a rosary. When the sentence was read, Castroneves broke into sobs and leaned against his attorneys for support. federal jury in Miami acquitted Castroneves on six counts of tax evasion but was hung on one count of conspiracy. Brazilian race car driver 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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