Ron Devine, the former owner of BK Racing, has been ordered to pay a $31 million fine after a federal appeals court upheld a previous ruling against him. The judgment stems from financial misconduct during the bankruptcy proceedings of his NASCAR team, which filed for Chapter 11 bankruptcy in 2018
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According to court records, Devine was accused of transferring millions of dollars between his business entities and failing to comply with financial disclosures. Additionally, he faced criminal charges for failing to pay payroll taxes, with reports indicating he withheld over $176,000 in trust fund taxes from employees but never submitted them to the IRS.
The ruling reinforces an earlier decision that found Devine and his associates engaged in a “pattern of bad faith” by failing to follow court orders and refusing to provide financial records. The bankruptcy case led to the liquidation of BK Racing’s assets, with its NASCAR team charters being auctioned off.
This legal battle marks the end of Devine’s controversial tenure in NASCAR, which saw BK Racing struggle financially before its eventual collap
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