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To: Larry Lucido

Do You mean Helio Castroneves ?

https://en.m.wikipedia.org/wiki/H%C3%A9lio_Castroneves

On 2 October 2008, Castroneves was charged with conspiracy and six counts of tax evasion by a grand jury for purportedly failing to report to the IRS about $5.5 million in income between 1999 and 2004, according to court documents. Each count carried a maximum five-year prison sentence. His business manager and sister Kati, and his lawyer Alan Miller were charged with assisting Castroneves in the supposed scheme. All three defendants surrendered to authorities in Florida on Friday, 3 October 2008. Castroneves pleaded not guilty to these charges on 3 October, and was ordered released on $10 million bail.[13][14] Castroneves was replaced by Will Power during the duration of his tax evasion court case.[15] The IRS claimed that Castroneves owed $2.3 million in taxes.[16] A guilty verdict would have likely ended Castroneves’ racing career.

This issue was related to the initial contract signed by Castroneves with Penske Racing in the fall of 1999. Greg Moore had already signed on to join Penske Racing for 2000, but was killed during the Marlboro 500 at California Speedway on 31 October 1999. During the trial, it was revealed that Castroneves’ first contract with Penske (2000–2004) was signed with Moore’s existing contract – with Moore’s name simply scratched out and Castroneves’ name handwritten in ink. The deal was signed by Moore’s agent, Alan Miller, who signed Castroneves’ deal just days after Moore’s funeral as pressure from Penske sponsors forced a quick resolution to filling the vacated seat.

Central to the case was the ownership of a Panamanian company called Seven Promotions. Prosecutors called it a shell corporation set up primarily so Castroneves could dodge U.S. income taxes. Hélio Castroneves Sr., Hélio’s father, however, testified that he created Seven to boost his son’s image in Brazil. Furthermore, Hélio Sr. said his son never owned it. Prosecutors called that a lie, showing jurors numerous documents in which Castroneves claimed Seven as his own. If it was, an IRS agent testified that Castroneves owed U.S. taxes on the full $5 million from Penske even though he had never actually received the money. Instead, the Penske payments were eventually invested in a deferred compensation deal with the Dutch firm Fintage Licensing B.V. 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.[17]

The trial ended on 10 April 2009, with closing arguments and the jury deliberated until 17 April, when it acquitted Castroneves of all six counts of tax evasion but hung on a count of conspiracy. About a month later on 22 May, prosecutors dropped the remaining conspiracy charge.[18]


10 posted on 06/21/2019 9:42:01 AM PDT by mabarker1 (Congress- the opposite of PROGRESS!!!)
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To: mabarker1; Gamecock; SaveFerris; PROCON

I wasn’t aware . . . that there was a real-life indictment involving a Penske associate. Our inside joke involves the Seinfeld character, Arthur Penske (or maybe Pensky) who is interested in hiring George away from Sanalac to work directly for him because he did such a good job organizing the Penske file, but he told George “You are aware...” and then got called away. Well, “you are aware” was that the entire board was under indictment and was prohibited from conducting business. Well, George quit Sanalac prematurely and showed up for his new job, unaware....


11 posted on 06/21/2019 9:59:48 AM PDT by Larry Lucido
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To: mabarker1; Larry Lucido

Yeah, I was not aware either.
I thought it was a Seinfeld thing too.
My apologies to all.


14 posted on 06/21/2019 10:12:58 AM PDT by redshawk (0pansy is a Liar and Hates.........he just hates!)
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