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Tax fraud, Indy-car style?

October 03, 2008

If you share the Tax Update's interest in Indy-car racing, you would be able to name only two open-wheel drivers: Danica and, um, the guy who dances, Julio somebody. Now the dancer has to tango his way out of tax fraud charges. E! Online, your tax authority, reports:

Hélio Castroneves, the former Indy 500 racing champ who won the fifth season of ABC's Dancing With the Stars, is in a heap of trouble today after the feds obtained an indictment against him for failing to pay millions in taxes from 1999 to 2004.
The Brazilian-born Castroneves, 33, along with his sister, Katiucia, 35, and his Ohio-based lawyer, Alan Miller, 71, face conspiracy and tax-evasion charges for hatching a tax-dodging scheme using an offshore shell corporation based in Panama to hide upwards of $5.5 million from the Internal Revenue Service.

A conviction for evading taxes on $5.5 million would have a disastrous impact on the quality of his dance partners for several years.

The TaxProf and TaxGrrrl have more.

Tags: tax crime.