Thursday, October 2, 2008

Indy 500 champion Castroneves indicted on income tax fraud

Helio Castroneves, a two-time winner of the Indianapolis 500, was indicted by a grand jury today on charges of income tax fraud conspiracy and with six separate counts of income tax evasion for tax years 1999 through 2004, the Justice Department announced today.

The indictment said one way Castroneves-- a U.S. resident who achieved additional celebrity by winning the champion title in the 2007 season of the TV show, "Dancing with the Stars" -- had hidden income was by creating an offshore Panamanian shell corporation.

For details about the alleged income tax fraud scheme, see the Justice Department press release.