Forum: HoseHeads Sprint Car General Forum (go)
Moderators: dirtonly  /  dmantx  /  hosehead

Its a good day....

...

money talked?

Lets dance! Now just pay your tax's and win the Indy 500

LONG BEACH, Calif. - "Hey, we're ready for you," Penske Racing president Tim Cindric texted Helio Castroneves seconds after a 12-member jury in Miami acquitted the two-time Indianapolis 500 champion of six counts of tax evasion. "I'm coming, man," was the reply.

He'll be in the No. 3 Team Penske car for the first session of practice April 18 on the 1.968-mile, 11-turn temporary street circuit in preparation for the 35th Toyota Grand Prix of Long Beach.

Will Power, who competed in the No. 3 entry at St. Petersburg, will drive a third entry - the No. 12 Verizon Wireless - in the April 19 race. Ryan Briscoe, who won the season opener, will remain in the No. 6 Team Penske car. Brian Barnhart, president of the competition and operations divisions of the sanctioning Indy Racing League, said Castroneves will be allowed to participate in both groups of the morning practice session (watch on indycar.com) that precedes qualifications.

Castroneves won the 2001 race at Long Beach -- six weeks before posting his first Indianapolis 500 victory with Team Penske.

Click it: Castroneves bio, stats and more | Congratulate Castroneves on IndyCar Nation

Cindric said Team Penske also will field the third entry for Power at the Indianapolis 500 in May, though current plans are not to enter the car in the Road Runner Turbo Indy 300 on April 26 at Kansas Speedway.

"I just want to thank God, and my fans, and all of the people who prayed for me," Castroneves said outside the courtroom. "It has been a very difficult place to be in. It's been a nightmare, and finally we wake up.

"Instead of going to Disneyland, I want to go to Long Beach and race. Guys, I'm back to racing."

The federal jury acquitted Castroneves on six counts of tax evasion but was deadlocked on one count of conspiracy, which prompted U.S. District Judge Donald Graham to declare a mistrial on the charge. The U.S. Attorney's Office said it was under review whether to re-try the case on the one count.

The jury also acquitted Katiucia Castroneves, 35, who is her 33-year-old brother's business manager, on the tax evasion counts but also hung on the conspiracy. Michigan attorney Alan Miller, 71, was acquitted on all three counts of tax evasion and one count of conspiracy.

The case brought by federal prosecutors mainly revolved around income from a $2 million sponsorship deal Castroneves had with the Brazilian firm Coimex and his $5 million licensing deal he reached with Penske Racing in late 1999. The jury deliberated six days after a six-week trial.

"Helio's played an integral part in the growth of the IndyCar Series, both on and off the racetrack the past few years, and has an incredible legion of fans," said Barnhart, who noted there were such contingencies in place regarding the trial's outcome and timing. "He is a true star in every sense of the word. His infectious personality, popularity and success on the racetrack is truly welcomed back to the IndyCar Series."

Barnhart said Castroneves will receive a full complement of tires (nine sets) for practice, qualifications and the 85-lap race. Castroneves, the 2008 IndyCar Series championship runner-up, last competed in October on the streets of Surfers Paradise, Australia, in a non-point race. He recorded two victories and 15 top-five finishes last season (including seven consecutive podium finishes to close out the season). In 114 IndyCar Series starts, the Coral Gables, Fla., resident has 14 victories.

"Penske Racing is very happy for Helio Castroneves and his family, following today's verdict," team owner Roger Penske said in a statement. "The team has supported Helio throughout this process and will continue to as the matter goes forward. Penske Racing is pleased and excited to have Helio in the No. 3 Team Penske car at this weekend's Toyota Grand Prix of Long Beach."

Power, 28, competed in the No. 3 car in the season-opening race at St. Petersburg, Fla., on April 5 (sixth-place finish) and in practice at Long Beach. He joined Team Penske in January after competing in the IndyCar Series in 2008 with KV Racing Technology (five top-10 finishes in 16 Indy Racing League-sanctioned races).

"I'm very happy for Helio and his family," said Power, who won at Long Beach last year in the final race under Champ Car sanctioning. "I couldn't imagine what it was like going through that, especially how much success he's had in his career. But for me I'm really excited to be driving the Verizon Wireless 12 car and also in the Indy 500. So this is a great opportunity for me.

"This team's made me feel very welcome. It's a first?class team. I really love working with these guys, and you never know what can happen in the future."

John Erickson, general manager of Penske Racing's Grand Am program, will be the race strategist for the No. 12 car. He was Briscoe's strategist in the 2007 Indianapolis 500.

The logistics/planning to run three cars if necessary was a feat unto itself, according to Cindric, who said getting back in a race car was "the best medicine" for Castroneves.

"I know he wants nothing more than to get back in that race car, and I have 100 percent confidence it will be like riding a bike for him," Cindric said.

Long Live  20 Time  World Of Outlaws Champion Steve 
Kinser #11 

That is great news as the IRL needs all the drivers & cars they can get!

A Brazilian getting convicted of not paying his taxes to the hated U.S. government? Was never going to happen. He could have represented himself and saved a lot of money. At least he'll still have to pay $2.3 million in back taxes plus tons of penalty dollars.

Adding $6 trillion of debt in his 1st term and now if 
elected again he wouldn't have to worry about an 
electorate in 2016 so the sky is the limit.And his EPA 
would continue to put the screws to oil drilling and 
mining for coal.Can you say bankruptcy.

I meant to say he'd "never get convicted in south Florida.

Adding $6 trillion of debt in his 1st term and now if 
elected again he wouldn't have to worry about an 
electorate in 2016 so the sky is the limit.And his EPA 
would continue to put the screws to oil drilling and 
mining for coal.Can you say bankruptcy.

So, I gotta hear this one. What does south florida have to do with anything?

...

Whew, they squeeked that one out. The old Panamanian tax shelter to Swiss bank and deferred Dutch annuity trick. Nicely done. Will be curious to see if Penske fields three cars all year. Truly glad to see Helio back in action.

The trial centered on Castroneves' racing-car contracts, his financial accounts outside the United States and intricate U.S. tax law.

Under the November 1999 Penske licensing contract, Castroneves' income was supposed to be sent to a Panamanian tax shelter but it was ultimately transferred instead to an annuity account in the Netherlands.

Castroneves -- whose attorney said the driver's father actually owned the Panamanian company, not the racer, as prosecutors alleged -- has yet to receive any of that income.

Castroneves also received $530,000 from a Brazilian trading company that sponsored him just before he hit the big time a decade ago with Penske.

Castroneves and his sister were accused of moving most of the driver's income from the Brazilian sponsor, Coimex Internacional, through the Panamanian company's bank account in New York to a Swiss bank. So far, Castroneves has paid taxes on only $50,000 of his earnings from Coimex.

While jurors did not convict Castroneves, his sister and the lawyer of any tax-evasion offenses, they indicated to the judge that they could not reach a unanimous agreement on the main conspiracy count -- which straddled the Coimex and Penske contracts.

Castroneves' attorneys said the Indy 500 champ -- who gained greater fame when he won the Dancing with the Stars reality TV show in 2007 -- plans to start paying his taxes in May when he begins receiving income from his Dutch annuity.

Said attorney Black after the verdict: ``He has not evaded taxes, and when the money comes due next month, he'll pay his taxes.'

 
 
 
They don't even know how to spell sprint car 
much less chromoly...http://www.ycmco.com

Can he run for political office now?

Run for office??? He fits right in with the Obama Administration, no need to run, he will be welcomed with open arms.

Trophy Cup......Best race of the year hands down!

careful bible-thumping, middle class, conservative evil white man. watch what you say,

OR WE WILL TAKE YOUR GUNS!!!! lol.

hey I think Homeland Security mentioned you in a domestic terrorism report they had the other day......you and probably a few others on this forum too

How much would could a wouldchuck chuck if a 
wouldchuck could chuck would

Right on OKC. Especially one from Posse land.

FACT: The list of Democratic leaders opposed to any form of gun control continues to grow. Actually most never supported it at all. It's all just been a scare tactic from the bible thumping loosers.

Can you all imagine the magnitude of civil unrest and disobedience if the feds ever tried to take our guns? For that reason it will never happen. The only thing the Conservatives have to worry about is the additional exposure, by the Dems, of just how corrupt and inept the past administration was.

WaDo, Roger

HAHAHA Good one OKC!!!

The right uses gun control, abortion, and tax hikes as their way of trying to scare their base. It cracks me up every time when people start saying "they are gonna take our guns". The party of "values" can keep dragging out Rush Limbaugh(self confessed drug addict), Sean Hannity (shill for Houston con Robert Stanford) and Glenn Beck (self confessed alcoholic/addict) to spout whatever BS they want.

They repubs are also doing a great job of blaming Obama for the stimulus that Bush came up with. Hearing a republican lecture about "accountability" makes me want to puke

Its going to take decades for americans to forget about the lies, corruption, and destruction wrathed by Cheney and Co.

More weight, more regulation, more similarity in the 
cars.... that will ensure plenty of thrills for years 
to come.  Only the most average talent behind the 
wheel will be needed with such awesome equipment on 
the track!
minthess 8.28.14

the feds have already started taking guns. they have now made it illeagal to have guns in national parks. national parks, aren't those the property of the people? so now the people can not have guns on their own property. so now you can not have the right to defend yourself with arms while you are on land the people are defending.

to indy and beyond!!

I don't know that your statement about guns being illegal in national parks is fact or not but last year on vacation I passed through a lot of them, with my gun and I still have it. I have not heard of one case where the feds have confiscated any guns at any parks or anywhere else for that matter. The only guns that I know of that the feds have taken are those involved in crimes and from felons. Now, what's wrong with that?

i find it kind of funny that some folks here want to do away with guns in order to "protect" us, while there is a common feeling that we need to arm merchant ships to "protect" them. it seems the idea of dissuading would be attackers with arms, or fending off attackers with the use of arms is perfectly acceptible for americans off the coast of somalia, but not in america.

to indy and beyond!!