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Helio Castroneves Needs to 'Splain His Tax Returns to IRS

Posted by Fara Kearnes on October 3, 2008 5:28 PM |

helio castronevesRace car driver and 'Dancing With the Stars' contestant Helio Castroneves must appear in a Miami courtroom today to face federal charges of tax evasion and conspiracy. According to reports, his sister and business manager, Katiucia, and his attorney, Alan Miller, were also indicted.

If the Brazilian driving champ can't Tango his way out of this tight corner, he could face some serious prison time if convicted. And hand over a lot of money to the US government.

Castroneves, 33, is accused by a federal grand jury of using a Panama shell company to try to hide $5.5 million in income from the prying eyes of the Internal Revenue Service.

"Taxpayers, small and large, famous and not famous, should be aware of the enormously severe consequences they face if they fraudulently use offshore accounts to hide income, including potentially going to prison, paying back all their taxes plus interest and penalties, and being branded a felon for the rest of their lives," said Nathan J. Hochman, Assistant Attorney General of the Justice Department's Tax Division.

Castroneves is a legal U.S. resident (hence the trouble!) and a two-time winner of the Indy 500 as well as winning the 5th season of Dancing With the Stars.



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