P1racenews AI automatic summary:
Former Alpine team principal Oliver Oakes’ resignation fell just a matter of days after the arrest of his brother, William.
The brother of former Alpine F1 team principal Oliver Oakes, William, was arrested and charged with “transferring criminal property” after being found with a large amount of cash in the Silverstone Park area last Thursday.
William remains in custody and appeared before Northampton Magistrates’ Court on Saturday, May 3, where he was remanded in custody following his arrest.
He was listed as a director of Hitech Grand Prix, a company fully owned by Oliver just days before Russia’s invasion of Ukraine.
To take control of Dmitry Mazepin’s shares in Hitech Grand Prix, Oliver formed a new company, Hitech Global Holdings Ltd, shortly after Dmitry and Nikita were sanctioned by the EU and UK governments.
Despite the ordeal, Nikita successfully had the sanctions overturned, and Oliver has reportedly traveled to Dubai, as per The Telegraph.
