By Andrew Cutler
March 4 2009

Opening Arguements were presented yesterday in a Miami courtroom in the tax evasion trial of Team Penske driver Helio Castroneves. For many in the press and public, this was the first time that the specifics of the charges against the popular CART and IndyCar veteran were laid out.

At the heart of the matter is how Helio delt with a one-time payment of six million dollars, which he received from Team Penske back in 1999 for the licensing rights to his name, likeness and image.

The prosecution, on behalf of the U.S. Internal Revenue Service, claims that Castroneves, his sister & his attorney, Alan Miller, instructed Team Penske to send five million of that fee not to what they say is Castroneves' own holding company, Panama-based Seven Promotions, but rather to a Dutch firm, Fintage Licensing. The crime in all of this lies in the fact that, if Helio really DOES own Seven Promotions, then Penske would have been legally required to deposit the money there, after taking out roughly 30 percent in taxes. By sending the check to Fintage instead, Helio got the entire sum, before taxes.

The prosecution further argued that it is Helio's intention, once his racing career is over, the leave the U.S. and then collect his money from Fintage without ever paying any tax on it.

The defense countered that Seven Promotions is actually owned by Castroneves' father, who funded the driver's early career as he rose through the lower series in racing's developmental ladder. They painted a picture of a young - 23 years old in '99 - Brazilian who barely spoke English at the time being "rushed" into a contract with Team Penske, who were desperate to fill the void left by the tragic death of driver Greg Moore.

Furthermore, they claim that the five million sitting at Fintage is all part of a perfectly legal tax deferment, a practice that many high-paid atheletes and celebrities engage in. In this case, they state, the taxes on the five million do not come due until May of this year - at which point they will be promptly paid.

The prosecution will begin to present it's case today. The trial is expected to last at least one month.