Oliver Oakes stepped down as Alpine`s team principal just days following the arrest of his brother.
William Oakes faced charges of `transferring criminal property` after being apprehended with a significant sum of money during a stop in Silverstone Park on May 1.
The 31-year-old, residing in Rugby, Warwickshire, was ordered to remain in custody following his appearance at Northampton Magistrates` Court on May 3.
According to a statement from the Metropolitan Police, William Oakes, aged 31 and from Rugby, was charged on Friday, May 2, with transferring criminal property. This charge followed his stop in the Silverstone Park area of Northamptonshire on Thursday, May 1, 2025, where he was found with a substantial amount of cash.
He appeared before Northampton Magistrates` Court on Saturday, May 3, and was subsequently remanded in custody.
William Oakes serves as a director at Hitech Grand Prix, a British-based junior racing team established by his brother, Oliver Oakes, in 2015.
Oliver Oakes, who is not connected to his brother William`s arrest and faces no accusations of misconduct, is a former professional racing driver. He won the karting world championship in 2005 and continues to be a director at Hitech GP.
Oliver Oakes developed Hitech GP into a dominant force in single-seater categories, including Formula 2 and Formula 3. He later took over from Otmar Szafnauer as Alpine team principal in August 2024, becoming the youngest team boss in Formula 1.
The 37-year-old saw the team achieve a notable double podium finish with drivers Esteban Ocon and Pierre Gasly at the 2024 Sao Paulo Grand Prix in Brazil. However, his unexpected departure occurred shortly after rookie driver Jack Doohan was replaced by Franco Colapinto after participating in just six races.
Sky Sports News sought comments from Hitech GP, but Alpine F1 chose not to provide a statement.
