12-10-2023, 10:33 PM
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
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