Update

Dancing Champ Helio Castroneves Indicted in Tax Case

10/02/2008 at 03:55 PM EDT

Dancing Champ Helio Castroneves Indicted in Tax Case
Helio Castroneves
Michael Tran/FilmMagic
Dancing with the Stars champ Helio Castroneves was indicted Thursday in a federal income tax case in Florida, PEOPLE confirms.

Castroneves, who charmed judges and the audience with his enthusiasm and infectious smile, is accused by a federal grand jury of siphoning millions of dollars in income to a Panamanian shell company from 1999 to 2004.

The 33-year-old Brazilian-born professional race car driver is expected to appear in a Miami court on Friday to face charges of conspiracy and tax evasion. If convicted of all charges, he faces a maximum penalty of 35 years in prison.

His sister and business manager Katiucia Castroneves and his attorney, Alan Miller, were also indicted.

Bud Denker, executive vice president of Penske Racing, for which Castroneves races, tells PEOPLE that Castroneves was in Atlanta Thursday preparing for a race on Saturday.

"He's doing fine," says Denker. "Now, he's focusing on getting this thing behind him, getting in the race car and hopefully winning a race."

Denker had not yet seen the indictment and said he could not comment on the charges.

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