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UPDATE: Helio Castroneves in Tears, Pleads Not Guilty to Tax Fraud
Friday October 3, 2008

helio castroneves
Helio Castroneves attends the 23rd Annual Great Sports Legends Dinner to Cure Paralysis on September 22, 2008 in New York City.
Brad Barket/Getty Images

Dancing With the Stars champ Helio Castroneves has pleaded not guilty to charges of conspiracy and six counts of tax evasion, according to TMZ.com.

The Brazilian professional race car driver, 33, was brought into his arraignment in cuffs and shackles and cried throughout the hearing in a Miami court Friday afternoon, the site reports.

He was ordered released on $10 million bail.

Castronoves had to give up his passport and is not permitted to travel anywhere outside the United States.

The site reports he can still participate in a 10-hour auto race scheduled for Saturday.

On Thursday, Castronoves was indicted Thursday for using offshore accounts to hide about $5.5 million in income from the Internal Revenue Service between 1999 and 2004.

If convicted of all charges, he faces a maximum penalty of 35 years in prison.

Before his court appearance Friday, one of Castronoves' attorneys, David Garvin, told the Associated Press his client "did not do anything wrong. We're looking forward to going to court."

"Helio has always done the appropriate thing and hired accountants and attorneys he relied upon," Garvin said.

His sister, Katiucia, and attorney Alan R. Miller are also facing charges.

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