Bernie Ecclestone, former F1 commercial chief, has been indicted for allegedly failing to declare more than £400m in assets abroad to the British tax authority, prosecutors said on Monday. 11).
The prosecution said Ecclestone, 91, faces a charge of fraud for misrepresentation.
“This follows a complex, worldwide criminal investigation by the HMRC Fraud Investigation Service,” said Simon York, director of Her Majesty’s Revenue and Customs Fraud Investigation Service (HMRC).
The first hearing in the case is expected to take place on 22 August at Westminster Court in London.
Contacted by the report in Ibiza, Ecclestone said he still did not know the details of the case.
“I didn’t see it. So, I don’t know, I can’t comment,” said the businessman. “It’s something that was talked about a while ago. They’ve probably all gotten excited again. Let’s see what happens.”
In 2015, Ecclestone faced a demand from HMRC for payment of more than £1 billion in relation to a family fund.
He said at the time that HMRC had failed to abide by an agreement made in 2008 over the “Bambino Trust”, created for the benefit of his ex-wife Slavica and daughters Tamara and Petra, and that it was taking legal action.
The Briton was sacked as F1’s chief commercial officer in 2017, when North American Liberty Media took over the sport’s commercial rights.
He maintains an office in London but now spends most of his time abroad, with residencies in Switzerland and Ibiza. He also has a farm in Brazil.
I have worked in the news industry for over 10 years. I have a vast amount of experience in covering health news. I am also an author at News Bulletin 247. I am highly experienced and knowledgeable in this field. I am a hard worker and always deliver quality work. I am a reliable source of information and always provide accurate information.
