Former F1 boss accused of money laundering
William Oakes, the brother of former Alpine team principal Oliver Oakes, has been granted bail ahead of his trial for financial crime allegations. Oakes, a former director of the Hitech GP team, was arrested in May and charged with possession and transfer of large amounts of suspected criminal property.
The arrest followed the discovery of a substantial amount of cash in Oakes’ possession, including 831,885 GBP (1.7 million AUD), 46,120 EUR (81,919 AUD), and 10,000 USD (15,414 AUD). He was initially remanded in custody after appearing before Northampton Magistrates’ Court on May 3.
Oakes pleaded not guilty to two charges and was granted bail during his appearance at Northampton Crown Court. His trial is scheduled to take place in April 2027.
The developments have cast a shadow over Oliver Oakes, who resigned as team principal of Alpine in May. While the reasons for his departure were initially unclear, it was later confirmed that he had left the team for “reasons of a personal nature.”
There were reports suggesting that Oliver Oakes had stepped down due to disagreements with Alpine executive advisor Flavio Briatore over the demotion of Jack Doohan. However, these claims were not confirmed.
Both Oakes brothers have been involved with Hitech GP, a team that competes in the FIA Formula 2 Championship, FIA Formula 3 Championship, and F1 Academy. The team has faced controversy in the past, having been previously owned by Russian businessman Dmitry Mazepin, father of former Formula 1 driver Nikita Mazepin.
Nikita Mazepin made his F1 debut with Haas in 2021 but was dropped from the sport, along with Haas’s then-title sponsor Uralkali, headed by his father, following Russia’s invasion of Ukraine in 2022.
The allegations against William Oakes have raised questions about the involvement of controversial figures in the world of motorsport. As the trial approaches, attention will be focused on the outcome and any potential implications for the Oakes family and their involvement in the sport.
In the meantime, William Oakes’ bail has been granted, and he will await his trial in April 2027. The developments serve as a reminder of the importance of transparency and accountability in the world of motorsport, and the need for teams and individuals to maintain the highest standards of integrity and professionalism.
