Andretti Green Racing co-owner Kevin Savoree testified today on behalf of Helio Castroneves. Savoree, an accountant, prepared the Brazilian’s U.S. tax returns in 1999, the year Castroneves signed with Penske Racing.
Race car driver and TV dance celebrity Helio Castroneves never sought to break the law in his financial affairs but could have avoided all U.S. tax on about $5 million if he had relocated from south Florida to Monaco as envisioned, an accountant testified Wednesday at Castroneves’ tax evasion trial.
“Helio Castroneves never suggested that you do something improper, right?” asked Castroneves attorney David Garvin.
“Absolutely not,” Savoree replied.
But Savoree acknowledged helping draft a memo describing the ultimate goal as having Castroneves “maintain a residence in a tax haven, such as Monaco.” Castroneves, a Brazilian citizen in the U.S. on a work visa, currently lives in Coral Gables, Fla., just south of Miami.
Savoree said Castroneves had minimal involvement in his financial dealings, but he also said the race car driver got “mad as hell” at one point as discussions dragged on in 2000 about the deferred income account.
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