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Bernie Ecclestone hit with fraud charges, £400million in overseas assets undeclared

Bernie Ecclestone hit with fraud charges, £400million in overseas assets undeclared

Bernie Ecclestone hit with fraud charges, £400million in overseas assets undeclared

Bernie Ecclestone hit with fraud charges, £400million in overseas assets undeclared

Former F1 supremo Bernie Ecclestone has been charged with fraud over a failure to declare £400 million pounds [$477m] in overseas assets.

Ecclestone faces one count of fraud by false representation after failing to report the assets to the British tax authority.

In a statement, Simon York, Director at the Fraud Investigation Service of Her Majesty's Revenue and Customs [HMRC], said: "This follows a complex and worldwide criminal investigation by HMRC's Fraud Investigation Service."

The first hearing of Ecclestone's case is set to be held on August 22nd at Westminister Magistrates Court in London.

Chief crown prosecutor, Andrew Penhale, added: “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.

“The Crown Prosecution Service reminds all concerned that criminal proceedings against this defendant are now active and that they have a right to a fair trial.

“It is extremely important that there should be no reporting, commentary or sharing of information online which could in any way prejudice these proceedings.”

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PapaofGagsJuly 11, 2022, 14:01

The man has History, anyone remember when Bernie walked into Court (2014) & handed over £60 million & declared.... "I'm an innocent man"

Like him or loathe him the man has some front.

"A German court has agreed to end the bribery trial of Formula 1 boss Bernie Ecclestone in exchange for a $100m (£60m) payment from him.

Mr Ecclestone's offer was based on an existing provision in German law.

He went on trial in April, accused of paying a German banker 33m euros (£26m; $44m) to ensure that a company he favoured could buy a stake in F1."

SymanskiJuly 11, 2022, 14:22

Funny how our corrupt government has actively encouraging people to move their assets overseas. Jacob Rees-Mogg told his clients ahead of Brexit to move their funds to Ireleand - and he's the current Brexit secretary trying to search for advantages of Brexit (he's failed - there are none).

And if the monies are overseas it's nothing to do with UK tax authorities.

YankeeF1July 11, 2022, 15:48

Once a crook always a crook. Just glad he can't take F1 down with him any more. Oh well he'll buy his way out of this too.

CHRISP357July 11, 2022, 17:12

I'm sure we've all taken some creative liberties with our taxes. At his wealth level, this is probably similar to what we all do, just the numbers appear more grand.

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