Ron Devine Indicted for Payroll Tax Evasion
Summary
Former NASCAR team owner Ron Devine faces serious legal issues, recently indicted on four counts for failing to pay payroll taxes exceeding $390,000 to the IRS. His financial troubles stem from his time as the owner of BK Racing, a team that declared bankruptcy in 2018. The U.S. Court of Appeals has upheld a ruling mandating that Devine pay $31 million in back wages related to the team's bankruptcy, showcasing the significant financial mismanagement that plagued the organization.
The bankruptcy process revealed egregious conduct on Devine's part, with a total of 78 claims against BK Racing amounting to over $44 million. Many employees were reportedly unpaid as the team's operations wound down. Additionally, the indictment includes allegations of failing to pay over $176,000 in payroll taxes, putting Devine at risk of substantial penalties, including a maximum of five years in prison and a potential $250,000 fine per count. Despite attempts to reach a plea deal addressing some charges, the cumulative weight of civil judgments and criminal allegations paints a troubling picture for Devine within the NASCAR community.