{"id":338278,"date":"2023-10-12T21:18:11","date_gmt":"2023-10-12T21:18:11","guid":{"rendered":"https:\/\/sportinfo.pro\/?p=338278"},"modified":"2023-10-12T23:01:22","modified_gmt":"2023-10-12T23:01:22","slug":"ex-formula-1-boss-pleads-guilty-to-767m-fraud","status":"publish","type":"post","link":"https:\/\/sportinfo.pro\/?p=338278","title":{"rendered":"Ex-Formula 1 boss pleads guilty to $767m fraud"},"content":{"rendered":"

Ex-Formula 1<\/a> boss Bernie Ecclestone<\/a> has admitted fraud after prosecutors charged him with failing to declare millions of dollars held in an overseas trust to the British government.<\/p>\n

During a court hearing on Thursday, the 92-year-old billionaire told the Southwark Crown Court in central London, \u201cI plead guilty\u201d.<\/p>\n

Prosecutors allege that on July 7 2015, Ecclestone failed to declare a trust he had in Singapore, with a bank account containing around $767 million, when he was asked about any trusts abroad that he was involved in.<\/p>\n

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\"Bernie<\/p>\n

Ecclestone had said "no" when asked by British law enforcement officers if he had any links to further trusts.<\/p>\n

Ecclestone claimed he had set up \u201conly a single trust\u201d in favour of his three adult daughters and that he was \u201cnot the settler nor beneficiary of any trust in or outside the UK".<\/p>\n

Prosecutors said he acted \u201cdishonestly\u201d and intended to make a gain from the claims.<\/p>\n

"That answer was untrue or misleading. Mr Ecclestone knew his answer may have been untrue or misleading," prosecutor Richard Wright said in court.<\/p>\n

"As of July 7 2015, Mr Ecclestone did not know the truth of the position, so was not able to answer the question.<\/p>\n

"Mr Ecclestone was not entirely clear on how ownership of the accounts in question was structured.<\/p>\n

\"Longtime<\/p>\n

"He therefore did not know whether it was liable for tax, interest or penalties about amounts passing through the accounts.<\/p>\n

"Mr Ecclestone recognises it was wrong to answer the questions he did because it ran the risk that HMRC would not continue to investigate his affairs. He now accepts that some tax is due about these matters."<\/p>\n

Ecclestone had pleaded not guilty to the charges earlier this year and had been due to face trial in November on the single fraud charge.<\/p>\n

Ecclestone headed Formula 1 for four decades from the 1970s.<\/p>\n

In January 2017, he stepped down and Liberty Media took over the sport.<\/p>\n

Ecclestone remains one of the UK's richest persons. Last year he was ranked 65th in The Sunday Times Rich List with an estimated net worth of $4.8 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ex-Formula 1 boss Bernie Ecclestone has admitted fraud after prosecutors charged him with failing to declare millions of dollars held in an overseas trust to […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":338280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/sportinfo.pro\/index.php?rest_route=\/wp\/v2\/posts\/338278"}],"collection":[{"href":"https:\/\/sportinfo.pro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sportinfo.pro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sportinfo.pro\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sportinfo.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=338278"}],"version-history":[{"count":3,"href":"https:\/\/sportinfo.pro\/index.php?rest_route=\/wp\/v2\/posts\/338278\/revisions"}],"predecessor-version":[{"id":338283,"href":"https:\/\/sportinfo.pro\/index.php?rest_route=\/wp\/v2\/posts\/338278\/revisions\/338283"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sportinfo.pro\/index.php?rest_route=\/wp\/v2\/media\/338280"}],"wp:attachment":[{"href":"https:\/\/sportinfo.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=338278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sportinfo.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=338278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sportinfo.pro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=338278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}