F1: Ecclestone pleads not guilty in UK tax fraud case

F1: Ecclestone pleads not guilty in UK tax fraud case – F1 News

June 7, 2023 at 1:35 pm

Photo: XPB Pictures

Bernie Ecclestone faces a lawsuit against the British government for failing to declare capital in a fund in Singapore.

The former Formula 1 boss was sued for failing to report a bank account containing around £400m (R$2.44bn at the current exchange rate) to British income tax on offshore funds.

Ecclestone is understood to have set up “a single trust” on behalf of his three daughters and is “not a trustee or beneficiary of any trust outside the United Kingdom”.

The charge was upheld by the Crown Prosecution Service (CPS) in July last year following an investigation by UK tax authority HMRC. Prosecutors accused Ecclestone of acting “dishonestly” and seeking to profit from the claims.

Bernie appeared in a London court last Tuesday (6) and pleaded guilty to fraud. Now, Ecclestone will face trial on November 16 this year.

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Wilfrid Hunter

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