Ex-Formula One boss Bernie Ecclestone has denied fraud over an allegation he failed to declare more than £400 million (€460 million) held in a trust in Singapore to the British government.
The 92-year-old appeared at London’s Southwark Crown Court on Tuesday wearing a dark suit and dark glasses and was supported by his wife, Fabiana Flosi.
He stood in the well of the court near his lawyers to confirm his name before entering a not-guilty plea to a single count of fraud between July 13th, 2013, and October 5th, 2016.
The billionaire faces trial at the same court on November 16th in front of UK High Court judge Mr Justice Bryan following an investigation by Britain's tax authority into his finances.
He is alleged to have failed to declare a trust in Singapore with a bank account containing around $650 million as part of the probe, which would have allowed the business magnate to draw a line under any previous tax irregularities.
The charge alleges that Ecclestone “dishonestly” and “thereby intending to make a gain” or “cause loss to another or expose another to a risk of loss made a representation to officers of HMRC which was, and which you knew was or might have been, untrue or misleading”.
The particulars state that Ecclestone, who has three grown-up daughters, Deborah, Tamara, and Petra, and a young son, Ace, said he “had established only a single trust, that being one in favour of your daughters and other than the trust established for your daughters you were not the settlor nor beneficiary of any trust in or outside the UK”.
The charge against him was authorised by the Crown Prosecution Service (CPS) in July last year following an investigation by HMRC, which said the probe had been “complex and worldwide”.
Chief Crown prosecutor Andrew Penhale said at the time: “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 £400 million.”
Conor McGregor shows off his lavish lifestyle aboard yacht at Monaco GP
Never one to deprive himself of enjoying the fruits of his labour, Conor McGregor recently enjoyed the Monaco GP aboard his private yacht.
The former two-division World Champion filmed himself eating a buffet of porridge and fruit while listening to Dr Dre and Snoop Dogg in the principality.
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— Conor McGregor (@TheNotoriousMMA) May 30, 2023
Monaco is known for its extravagant wealth, and those with enough money can dock their yachts a matter of metres from the track for the ultimate view.
'The Notorious' is preparing for a return to the Octagon, as the latest series of the Ultimate Fighter pits him against American Michael Chandler.
Written by By Henry Vaughan, PA and Shaun Connolly, Beat
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