Here's AP coverage and Sun-Sentinel coverage of the closings. Here's the govt case:
Racing champion and reality TV star Helio Castroneves took part in "a pattern of deception" with his sister and lawyer to avoid paying taxes on more than $5.5 million, a federal prosecutor told jurors Thursday in closing arguments.Prosecutor Jared Dwyer said the group had wealth and success but thought "the rules didn't apply to them" when it came to paying taxes. So, Dwyer said, they funneled Castroneves' income into shell corporations and offshore accounts to hide it from the Internal Revenue Service and shirk a tax bill of roughly $2.3 million."Mr. Castroneves wanted to take advantage of all the opportunities in this country but skipped out on his responsibilities," Dwyer said.
The defense:
In closing arguments, defense lawyers for Castroneves insisted he did not cheat on his taxes and had followed the advice of his attorneys and accountants. They reminded jurors Castroneves has not collected most of the money at issue and would only owe taxes when he is paid."There are mistakes and ignorance at times, but at the end of the day there is no crime," said attorney David Garvin.
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According to prosecutors, after learning the U.S. firm would withhold 30 percent of his contract for the IRS, Castroneves and his co-defendants diverted the income to a Dutch company to avoid the deduction. Although Castroneves has not yet received the money, he still owes taxes under the constructive receipt rule, Dwyer told jurors.But defense lawyer Roy Black called the government's reasoning absurd. "You pay the taxes when you get the money, that's the bottom line," Black said.The jury is expected to begin weighing the evidence on Friday.
David, how much of that $600,000 award can I have? You're like an AIG CEO now.
ReplyDeleteDavid, Obama wants you fired from your private practice now based on payments he doesn't think hard-working Americans like you deserve.
ReplyDeleteDoubtful David is getting ahead on this one - he would have been paid those fees regardless, it is the Dr. who is off the hook for the bill - right?
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ReplyDeleteHey 8:24AM: Thanks for the comment from the USAO peanut gallery. You folks need to take the day off today after Judge Gold's order yesterday and re-think your overzealousness. You do not define what the law is.
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