Ex-Formula 1 boss Bernie Ecclestone is on trial for fraud by providing false information

Ex-Formula 1 boss Bernie Ecclestone, 92, comes to court where he faces charges of fraud by misrepresentation “after failing to declare assets worth £400million abroad”.

  • Bernie Ecclestone, 92, is accused of hiding over £400million from UK tax authorities
  • He is accused of falsely claiming that he only set up a single trust for daughters
  • The former Formula 1 boss arrived at Southwark Crown Court for a hearing

Ex-Formula 1 boss Bernie Ecclestone has appeared in court where he is charged with fraud by providing false information.

The 92-year-old, who is accused of hiding more than £400million from Britain’s tax authorities, is at Southwark Crown Court for another case-management hearing this morning.

He is accused of falsely claiming he only set up a single trust for his daughters because he allegedly failed to declare foreign assets to the tax authorities.

His trial is scheduled to begin on November 15 this year.

Prosecutor Robert Simpson previously said: “The charges stem from a Revenue and Customs investigation into Mr Ecclestone.

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

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

Bernie Ecclestone (left) arrives for a hearing at Southwark Crown Court in London - pictured right is his wife Fabiana Flosi

Bernie Ecclestone (left) arrives for a hearing at Southwark Crown Court in London – pictured right is his wife Fabiana Flosi

‘The Treasury and Customs Board have opened an inquiry into Mr Ecclestone’s finances [and] During the court of this inquiry he was asked about overseas placed trusts in which he was involved.

“The Crown bases its charges on the fact that he failed to disclose a trust in Singapore with a bank account of approximately $650 million.”

Ecclestone, who has three daughters, Deborah, 68, Tamara, 38, and Petra, 34, has made a misrepresentation, according to the indictment, saying “he has established only one trust, and it is one in favor of your daughters”.

He allegedly told authorities: “Other than the trust set up for your daughters, you were neither a settler nor a beneficiary of any trust inside or outside the UK”.

Ecclestone is accused of hiding more than £400m from UK tax authorities

Ecclestone is accused of hiding more than £400m from UK tax authorities

Earlier on, Chief Crown Prosecutor Andrew Penhale said: “The CPS has reviewed an evidence file held by HMRC and approved a misrepresentation fraud charge against Bernard Ecclestone in relation to his failure to tell HMRC the existence of assets held overseas of a value in excess of Have £400m.’

Simon York, Director of the Fraud Investigation Service (FIS), HMRC, previously added: “We can confirm that Bernard Ecclestone has been charged with fraud by misrepresentation. This follows a complex and global criminal investigation by HMRC’s Fraud Investigation Service. The criminal charge relates to projected tax liabilities arising from more than £400m of offshore assets hidden from HMRC.

“HMRC stands with honest taxpayers and we will take tough action where we suspect tax fraud. Our message is clear – no one suspected of tax fraud is beyond our reach.

“We remind people to refrain from commenting or sharing any information that could in any way affect the proceedings. This is now a matter for the courts and we will not comment further on it.’

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Emma Colton

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