Ex F1 team boss in tax fraud probe

May 9 (GMM) The former chief executive of a F1 team is accused of income tax fraud, according to reports in Spain.

In 2011, the F1 team HRT or Hispania was sold to a Spanish firm called Thesan Capital, linked to the Japanese financial group Nomura.

Marca, a Spanish sports daily, and El Confidencial say former HRT chief executive Saul Ruiz de Marcos is among those accused of defrauding EUR 3 million in income tax using a web of shell companies.

Among the charges are corruption and money laundering, the reports added.

Related News

  • 08/05/2018 Italy GP money laundering probed – report May 8 (GMM) Italian prosecutors are reportedly investigating suspected fraud relating to the formula one race at Monza. Italy's La Repubblica reports that the authorities suspect tax […]
  • 10/02/2016 Briatore changes face with plastic surgery Feb.10 (GMM) Flavio Briatore is a radically changed man, according to the latest gossip reports emerging from Italy. Chi, an Italian gossip magazine, has published paparazzi photographs […]
  • 11/02/2016 Jorda hits back at Sorensen’s 12s per lap claim Feb.11 (GMM) Carmen Jorda has hit back at a former F1 colleague, following an accusation that her presence at Renault caused him to quit the sport. Marco Sorensen, recently a test driver […]
  • 27/04/2017 Honda help ‘better for F1’ – Boullier Apr.27 (GMM) Eric Boullier is making the case that Honda should be given a boost to finally get up to speed in formula one. 2017 is actually the Japanese carmaker's third season since […]
  • 19/05/2016 Honda not confirming Canada upgrade yet May 19 (GMM) Honda's Yusuke Hasegawa has played down growing reports that McLaren will get a highly-anticipated engine upgrade in Montreal next month. "It doesn't necessarily have to be […]
  • 12/02/2018 Briatore sentenced to jail for tax fraud Feb.12 (GMM) An Italian court has imposed an 18 month prison sentence on former Renault boss Flavio Briatore. Two years ago, the flamboyant Italian was convicted over a case surrounding […]
  • 26/09/2016 Honda eyes second F1 team for 2018 Sep.26 (GMM) Honda has indicated it is inching towards being ready to supply more teams with engines in formula one. Until now, McLaren has been unwilling to budge on its apparent […]
  • 23/02/2015 De la Rosa set for Mercedes switch – report Feb.23 (GMM) Pedro de la Rosa could be set to return to formula one with Mercedes. In recent years, the Spanish veteran worked closely with his countryman Fernando Alonso at Ferrari as […]
  • 10/02/2016 F1’s ‘glorious days’ are now – Andretti Feb.10 (GMM) Mario Andretti has counted himself out of the constant criticism of modern formula one. The F1 legend and 1978 world champion raced in the glorious era between the late 60s […]
  • 17/10/2017 Honda relationship ‘difficult’ with Alonso – boss Oct.17 (GMM) Yusuke Hasegawa admits some of his colleagues at Honda did not appreciate Fernando Alonso's forthright criticism. After three uncompetitive and unreliable years, the […]