Trial Date Will Decide Castroneves Racing Future With Team Penske

Penske To Make Decision On Castroneves Trial Date

Penske To Make Decision On Castroneves Trial Date

Flickr


Team Penske probably will decide within the next few weeks whether two-time Indianapolis 500 winner Helio Castroneves, who faces criminal tax-evasion charges, will keep driving for their IndyCar Series team next season, owner Roger Penske said.

The decision pivots on whether the federal court hearing the tax case decides whether to start Castroneves’ trial next year or after the 2009 season, Penske said today at Auto Club Speedway in Fontana.

“If it’s during the season, obviously it’s very difficult for us to have him as a full-time driver,” Penske said. “It would be difficult for us to have him in the car during a period of time when he would have to be preparing himself for court.

“We’re going to make a decision here once we understand when there is a court date and when this process will begin,” Penske said. “I think this will be answered here in the next 30 days.”

Helio Castroneves had hoped his trial on federal tax evasion charges would be delayed until after the 2009 IndyCar Series season so he could compete without distraction, but that won’t be the case.

Castroneves’ trial in Miami will begin March 2, just four weeks before the season opener in St. Petersburg, Fla.

The 33-year-old is free on $10 million bail.

The famed Brazilian driver was indicted on charges of conspiracy and six counts of tax evasion for purportedly failing to report to the IRS about $5.5 million in income between 1999 and 2004. Each count carries a maximum five-year prison sentence.

Also indicted were Castroneves’ sister and business manager, Katiucia, and attorney Alan R. Miller.

According to the indictment, the the trio used an offshore corporation set up in Panama to pull off the tax evasion scheme.

Castroneves is a two-time Indianapolis 500 winner and gained more fame as the 2007 winner of TV’s “Dancing With the Stars” competition. He has pleaded not guilty and is free on $10 million bail.

You could get van insurance for as little as £276 (based on quotes provided to 10% of callers. (Source: MORE TH>N BUSINESS October 2009) when you buy online as well as other great offers when you buy a business insurance product.

With our home insurance policy, when you buy buildings insurance, we'll give you contents insurance up to £75,000 absolutely free! or for contents worth more, try our high value home insurance cover

Buy pet insurance online and benefit from a 20% discount! From 8 weeks old onwards, your pet cat or dog will be covered regardless of its age (covers each new injury or illness up to £7000).

Free helplines for legal advice, medical advice and post-accident counselling, and discounts on our breakdown cover with our car insurance UK based personal customer manager.

Apply at MORE TH>N and we'll give you the best quote from our panel of leading insurers to help find you the cheapest life insurance policy. Prices start from only £5 a month.

Choose a Newsfeed
use the newsfeed below to search the full Auto Racing Daily story archive