The development comes following his shock resignation from Alpine earlier this week.
A report in The Telegraph, supported by multiple sources spoken to by Speedcafe, has claimed that Oakes has headed to Dubai after his brother, William, was remanded in custody.
William Oakes has been charged with ‘transferring criminal property’ and was arrested last Thursday.
“William Oakes, 31, of Rugby was charged with transferring criminal property on Friday, May 2 after he was stopped in the Silverstone Park area in Northamptonshire on Thursday, May 1, 2025 in possession of a large amount of cash,” a Metropolitan Police spokesperson confirmed.
“He appeared before Northampton Magistrates’ Court on Saturday, May 3, and remanded in custody.”
Meanwhile, Oliver Oakes has reportedly travelled to Dubai following last weekend’s Miami Grand Prix.
The United Arab Emirates holds an extradition treaty with the United Kingdom.
It was thought that Oakes’ exit from Alpine was the result of a disagreement with Flavio Briatore over the management of Alpine, and specifically the decision to bench Jack Doohan.
That was subsequently denied via a joint statement by Oakes and Briatore.
“It’s been a privilege to lead everyone at Enstone, what a team, what a place,” Oakes wrote.
“It is a personal decision for me to step down.
“Flavio has been like a father to me, nothing but supportive since I took the role, as well as giving me the opportunity.
“Everyone is in place for 2026 and where this dream deserves to be!
“I believe in Enstone.”
There were also suggestions Oakes could replace Christian Horner at Red Bull.
The Oakes brothers are both listed as directors of the Hitech Grand Prix team, which fields cars in Formula 2 and Formula 3.
Hitech was previously majority owned by Russian oligarch Dmitry Mazepin.
His interest in Hitech came through the Cyprus-based Bergton Management company, though it relinquished that in the days prior to the invasion of Ukraine.
At the time, Labour MP Liam Byrne pointed out that “There does not seem to have been any cash paid out for this major economic interest in a globally significant grand prix company.”
He added that there was a “a clear risk that oligarchs are using proxies, and that this misbehaviour is washing up on our shores and in Companies House.”
Mazepin became involved with Hitech in 2016 as his son, Nikita Mazepin, climbed the junior ranks.
He reached F1 with Haas, with the team adopting title sponsorship from Uralkali, a Russian minerals company headed by Dmitry Mazepin.
Both Nikita Mazepin and the Uralkali backing were dropped in the immediate aftermath of the invasion of Ukraine in 2022.
Having kept a low profile in F1 circles since, Dmitry Mazepin made a surprise appearance in the paddock during pre-season testing in Bahrain.
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