Helio Castroneves Acquitted of Tax Fraud Charges

Indy car driver and former Dancing with the Stars champ Helio Castroneves was found not guilty on six counts of tax evasion.

The 12-member federal jury in Miami which began deliberations last Friday after a six-week trial, was deadlocked on the seventh count of conspiracy, and U.S District Judge Donald Graham called a mistrial on that count.

Last year Helio was indicted along with his sister, Katiucia Castroneves, and Alan Miller, Helio’s lawyer on charges of Conspiracy to Defraud the U.S. and Tax Evasion. Castroneves, a two-time Indianapolis 500 winner, was charged with failing to pay taxes on $5.5 million of income between 1999 and 2004. He could have faced at least six years in prison if convicted on all counts.

Helio and two others were accused of using “an offshore Panamanian shell corporation, Seven Promotions, to conceal and disguise the true and correct amount of Helio Castroneves’ income from the Internal Revenue Service.”

Penske Racing Tim Cindric said Friday the two-time Indianapolis 500 winner will return to his No. 3 IndyCar in time for practice and qualifying Saturday for the Toyota Grand Prix of Long Beach.

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