Ex-F1 boss Bernie Ecclestone to be charged with fraud

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Former Method One boss Bernie Ecclestone might be charged with fraud by false illustration over an alleged failure to declare £400m of abroad belongings to the federal government.

The cost in opposition to the 91-year-old was authorised by the Crown Prosecution Service (CPS) on Monday following an investigation by Income and Customs (HMRC).

Andrew Penhale, Chief Crown Prosecutor, mentioned: “The CPS has reviewed a file of proof from HMRC and has authorised a cost in opposition to Bernard Ecclestone of fraud by false illustration in respect of his failure to declare to HMRC the existence of belongings held abroad believed to be price in extra of £400m.

“The Crown Prosecution Service reminds all involved that prison proceedings in opposition to this defendant are actually energetic and that they’ve a proper to a good trial.

“This can be very essential that there must be no reporting, commentary or sharing of knowledge on-line which might in any manner prejudice these proceedings.”

Simon York from HMRC mentioned that the investigation had been “complicated and worldwide”.

“We are able to verify {that a} fraud by false illustration cost has been authorised in opposition to Bernard Ecclestone,” he mentioned.

“This follows a fancy and worldwide prison investigation by HMRC’s Fraud Investigation Service.

“The prison cost pertains to projected tax liabilities arising from greater than £400m of offshore belongings which had been hid from HMRC.

“HMRC is on the facet of trustworthy taxpayers and we are going to take robust motion wherever we suspect tax fraud. Our message is obvious – nobody is past our attain.

“We remind individuals to chorus from commentary or sharing of knowledge that would prejudice proceedings in any manner. That is now a matter for the courts and we won’t be commenting additional.”

The case will first be heard at Westminster Magistrates’ Court docket on August 22.

Ecclestone was once F1’s CEO earlier than Liberty Media’s takeover in 2017, and he left his emeritus place throughout the sport in 2020.



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