Ex-F1 chief Ecclestone faces fraud trial next October after failing to declare a RM2.1bil multi-million pound trust in Singapore


Former Formula One boss Bernie Ecclestone (left) leaves Southwark Crown Court, in London, Tuesday, Oct. 4, 2022. Ecclestone has been charged with fraud by false representation over an alleged failure to declare £400 million of overseas assets to the Government - AP

LONDON/SINGAPORE, Oct 4, 2022 (AFP): Former Formula One supremo Bernie Ecclestone will stand trial in October next year on charges of failing to declare a multi-million pound trust in Singapore to the British tax services, a judge in London said on Tuesday.

Ecclestone, 91, was charged in July over an alleged failure to declare more than £400 million (US$453 million - RM2.1 billion) of overseas assets to the UK government, accusations he denies.

He appeared at London's Southwark Crown Court on Tuesday, arriving in the back of a white Range Rover.

Ecclestone wore glasses, a dark grey three-piece suit, white shirt and grey tie as he sat in court, unusually taking a position behind his lawyers rather than in the dock due to his hearing difficulties.

His wife watched from the public gallery as judge Deborah Taylor fixed the trial date for October 9, 2023, saying it could last up to six weeks.

The British businessman, whose financial net worth has been estimated at some $3 billion, is widely credited with transforming F1 commercially.

His control of the sport developed from the sale of television rights in the 1970s and he was chief executive of Formula One Group until January 2017.

The Crown Prosecution Service, which brings charges in England and Wales, said it brought the case for "fraud by false representation" after a "complex and worldwide" investigation by HM Revenue and Customs. - AFP

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Ecclestone , former supremo , F1 , Faces , Jail Time , Fraud Trial

   

Next In Aseanplus News

Asean News Headlines as at 9pm on Tuesday (Nov 29)
18 months’ probation for man who downloaded photos of children being sexually abused
Civil service committed to implement reform agenda under PM Anwar, says Chief Secretary to the Government�
Ex-boxing referee admits cheating to help Pacquiao win fight 22 years ago
Jokowi's volunteer rally riles party elites
King grants first audience to Anwar since his appointment as PM
Indonesia military chief seeks drills to counter China
Vietnamese movie wins first prize at international film festival in France
Cambodian boy visited by S. Korea’s first lady to get free treatment at top Seoul hospital
PM issues letter demanding apology from Baling MP over audio alleging Israel links

Others Also Read