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Full Version: Ex-Formula One boss Bernie Ecclestone admits fraud, hid money in Singapore
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Ex-Formula One boss Bernie Ecclestone has avoided jail after pleading guilty to fraud over a failure to declare £400m held in a trust in Singapore to the government.


Ecclestone, who turns 93 later this month, was sentenced to 17 months in jail, suspended for two years, at Southwark Crown Court.


The billionaire has made a £652.6m payment to HM Revenue and Customs (HMRC) covering his tax affairs over 18 years.


He was due to face trial in November but appeared in court today wearing a dark grey suit, supported by his third wife, Fabiana Flosi, to plead guilty to a single count of fraud on 7 July 2015.


Prosecutors said Ecclestone made untrue or misleading representations to HMRC at a July 2015 meeting, when he said he "established only a single trust" in favour of his daughters Deborah, Tamara and Petra.


The court heard Ecclestone answered "no" when asked by HMRC officers whether he had any links to further trusts "in or outside the UK".


He failed to declare a trust in Singapore with a bank account containing around $650m, worth about £400m at the time.

A lot more at https://tinyurl.com/59rxcdvx
SG is money laundering haven liao
(12-10-2023, 11:55 PM)pinkypanther Wrote: [ -> ]SG is money laundering haven liao

Singapore financial hub already hiding dirty money in billions so, what is these few million pounds.

Today, Singapore is like a money laundering washing machine
.
Is this F1 one of the attractions to Singapore because of Bernie secretly hiding millions of his tax free money here..?

The whole world thought Singapore is clean and honest.

Dishonourable
How about Ong Beng Seng & Iswaran case?
SGP got how many cases of money laundering ?
(13-10-2023, 07:12 AM)Sline Wrote: [ -> ]How about Ong Beng Seng & Iswaran case?

$$$ and reputation covering up money laundering