Former Formula 1 boss Bernie Ecclestone was sometimes part of questionable business deals, but now actually has to answer British courts in fraud cases. He will “hide” no less than $650 million from tax authorities.
Ecclestone made his debut in Formula 1 in the 1970s and will lead the sport until 2017. He took a step back and Liberty Media took over from him the premier class of motorsport. The billionaire, who is now 92 years old, still routinely makes himself heard, for example about the course of the 2007 World Cup, but now really has to answer for himself in court.
Of course, if you’re as rich as Ecclestone, you might ‘forget’ a few million euros and not even realize where that money is going. But a British court believes that Ecclestone knowingly concealed that he had put no less than $650 million in Singapore’s trust fund. He should have stated how much money he had in such a trust but claimed no interest in such funds outside the UK.
Dark sunglasses
Ecclestone, who appeared at Southwark Crown Court in London in a black suit and sunglasses on Tuesday, has now officially stated that he is innocent and that he was not involved in any fraud between July 2013 and October 2016, the report said. Associated Press. The lawsuit will resume in November, as UK tax authorities are set to complete an investigation into Ecclestone’s global ledger.
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