José Ramón Carabante, owner of the Hispania Racing Team, has been sentenced to a three-month jail sentence, but the multimillionaire won’t actually serve a day behind bars, according to reports.

Jose Ramon Carabante has narrowly avoided a stint in jail An article in the Marca sports daily claims the 59-year-old was convicted of fraud relating to the sale of land between 1997-8 on which the promised construction of homes was not carried out.

Carabante was a director of the land development firm that oversaw the transaction, where his role was to sign the contracts and handle the finances.

[Image via Sutton Images]

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Richard Bailey

Founder & Chief Editor at MotorsportM8
Hasn't missed a Grand Prix since 1989. Has a soft spot for Minardi. Tattooed with 35+ Grand Prix circuits.