Ex-Formula One boss Bernie Ecclestone appears at court for ‘hiding more than £400m from the taxman’

[ad_1]

Ex-Formula One boss Bernie Ecclestone, 92, is supported by wife Fabiana Flosi as he appears at court ahead of trial later this year for ‘hiding more than £400m from the taxman’

  • Bernie Ecclestone, 92, accused of hiding over £400m from British taxman
  • He is accused of falsely claiming he had only set up a single trust for daughters
  • The former Formula One boss appeared at Southwark Crown Court for a hearing

Ex-Formula One boss Bernie Ecclestone has appeared in court charged with fraud by false representation over allegations he hid more than £400 million from the taxman.

The 92-year-old motor racing tycoon is accused of failing to declare a trust in Singapore with a bank account containing around 650 million US dollars.

Ecclestone appeared at London’s Southwark Crown Court for a further case management hearing this morning. His trial is listed to begin on November 16 this year.

Ex-Formula One boss Bernie Ecclestone appears at court for ‘hiding more than £400m from the taxman’

Bernie Ecclestone is accused of hiding more than £400m from the British tax authorities

Ecclestone arrived at court nearly 80 minutes before the hearing was due to start at 10am. The billionaire was dressed in a smart dark suit with a white shirt, dark striped tie and tinted glasses.

His current wife Fabiana Flosi attended court to support Ecclestone from the public gallery.

The pair arrived at court in the back of his white Range Rover, with a personalised number plate, before his driver opened the door for him.

Ecclestone appeared frail as he sat alongside his lawyers rather than in the dock behind him during the hour-long proceedings.

He appeared not to be able to hear when he was asked to confirm his name at the start of the case management hearing.

Ecclestone had to be prompted by a member of his legal team before finally replying in a faltering voice: ‘Bernard Ecclestone.’

His barrister Clare Montgomery KC and prosecutor Richard Wright KC discussed administrative matters and timetables during the hour-long hearing before judge Mr Justice Bryan.

Former Formula One boss Bernie Ecclestone arriving at Southwark Crown Court for a hearing today

Former Formula One boss Bernie Ecclestone arriving at Southwark Crown Court for a hearing today

Ecclestone is accused of one charge of fraud by false representation between July 13, 2013 and October 5, 2016.

The charge alleges that Ecclestone, who has three grown-up daughters – Deborah, 68, Tamara, 38, and Petra, 34 – allegedly made a representation to officers of HMRC, ‘which was, and which he knew was or might have been, untrue or misleading’.

The particulars state that Ecclestone, who is a great-grandfather and also has a young son, claimed ‘he had established only a single trust, that being one in favour of his daughters’ and ‘other than the trust established for his daughters he was not the settlor nor beneficiary of any trust in or outside the UK’.

See also  Syria and Turkey earthquake: Girl is rescued after a WEEK in collapsed Turkish building

Ecclestone previously indicated he would enter a not guilty plea at a hearing at Westminster Magistrates’ Court last August.

The Sunday Times Rich List ranks Ecclestone, who has been married three times, as the 65th wealthiest person in the country, with an estimated net worth of £2.5billion.

At an earlier hearing prosecutor Robert Simpson said: ‘The charge arises out of a Revenue and Customs investigation into Mr Ecclestone.

‘The Revenue and Customs instigated an investigation into Mr Ecclestone’s finances (and) during the court of that investigation, he was asked about any trusts placed abroad that he was involved in.

‘The Crown bases its charge on the fact that he failed to disclose a trust in Singapore with a bank account containing approximately $650 million.’

The charge against him was authorised by the Crown Prosecution Service (CPS) last July following the investigation, which was said to be ‘complex and worldwide’.

Chief Crown Prosecutor Andrew Penhale said previously: ‘The CPS has reviewed a file of evidence from HMRC and has authorised a charge against Bernard Ecclestone of fraud by false representation in respect of his failure to declare to HMRC the existence of assets held overseas believed to be worth in excess of £400m.’

Ecclestone, of Knightsbridge, central London, is on unconditional bail.

Advertisement

[ad_2]

Source link