MAY 9, 2016
Ex F1 team boss in tax fraud probe
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.