Former Formula 1 boss Bernie Ecclestone has pleaded guilty to fraud after failing to declare more than £400 million in trust fund accounts in Singapore.
Last year, HM Revenue and Customs charged Ecclestone with deliberate failure to declare his overseas assets. Bernie denied the charges at a preliminary hearing but pleaded guilty to one count of tax fraud at Southwark Crown Court on Thursday.
Prosecutors allege Bernie Ecclestone made false and misleading statements at a meeting with HM Revenue and Customs in July 2015 when he said he had “only set up one trust” for the benefit of his daughters Deborah, Tamara and Petra.
In court today, Bernie gave only his first name and made a short statement: “I plead guilty.” Prosecutors added that Ecclestone had agreed to pay £652 million in fines. Court hearings in this case will continue in November 2023.
2023-10-12 09:57:00
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