Ex Formula 1 team boss in tax fraud probe

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.