Ex-Formula One chief Bernie Ecclestone facing fraud charges

Authorities charged Bernard Ecclestone with fraud by false representation in respect of his failure to declare to UK Revenue and Customs the existence of assets held overseas.

Published: 11th July 2022 07:21 PM  |   Last Updated: 11th July 2022 07:21 PM   |  A+A-

Former Formula One boss Bernie Ecclestone .(File Photo | AP)


LONDON: Former Formula One supremo Bernie Ecclestone is to be charged with fraud by false representation over an alleged failure to declare £400 million (USD 477 million, 473 million euros) of overseas assets to the British government, prosecutors said Monday.

Andrew Penhale, Chief Crown Prosecutor, said: "The CPS (Crown Prosecution Service) has reviewed a file of evidence from HMRC (UK Revenue and Customs) 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."

He added: "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."

Simon York of HMRC said the investigation into the 91-year-old Ecclestone had been "complex and worldwide".

"We can confirm that a fraud by false representation charge has been authorised against Bernard Ecclestone," he said.

"This follows a complex and worldwide criminal investigation by HMRC's fraud investigation service.

"The criminal charge relates to projected tax liabilities arising from more than £400m of offshore assets which were concealed from HMRC.

"HMRC is on the side of honest taxpayers and we will take tough action wherever we suspect tax fraud. Our message is clear -- no one is beyond our reach."

The case will first be heard at London's Westminster Magistrates' Court on August 22, although it was not specified if Ecclestone would be compelled to attend.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp