Ex Formula 1 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.

The former chief executive of a Formula 1 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 report that former HRT chief executive Saul Ruiz de Marcos is among those accused of defrauding €3m (£2.4m) in income tax using a web of shell companies.

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

Ron Dennis of McLaren is seen during practice for the Australian Formula One Grand Prix at the Albert Park Circuit on March 25, 2011
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