Dancing with the Stars champion Helio Castroneves indicted

Oct 3, 2008 at 3:00 p.m. ET

Two-time Indy 500 champion and Dancing with the Stars winner Helio Castroneves has been indicted for not paying taxes on close to $5 million in income.

Dancing champ Hilio in happier times

The charges, including conspiracy to defraud the United States Government and tax evasion, stem from an investigation in which Helio and two others were discovered to have set up "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," according to the indictment.

Also charged are Helio's sister, Katiucia Castroneves, and lawyer Alan Miller. The trio is charged with conspiracy "for the purpose of impeding, impairing, obstructing, and defeating the lawful government functions of the Internal Revenue Service," and stand accused of trying to conceal Helio's true income.

One of the charges states that Helio received $2 million from a Brazilian trading company but hid all except $200,000 in the shell corporation.

Each charge is punishable by a maximum of five years in federal prison.

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