London — Former F1 Chief Executive Bernie Ecclestone has been charged with fraud for failing to declare more than £ 400 million ($ 477 million) of foreign assets to the UK tax authorities. Said the prosecutor on Monday.
The public prosecutor’s office said Ecclestone, 91, faced one count of fraudulent misrepresentations.
“This follows the complex and global criminal investigation by HMRC’s fraud investigation service,” said Simon York, director of HMRC’s fraud investigation service.
The first hearing of his case will be held on August 22nd at the Magistrates’ Court in Westminster, London.
Ecclestone, who was contacted by Ibiza’s Reuters, said he had not yet confirmed the details.
“I haven’t seen it, so I can’t comment because I don’t know,” he said when the statement was read by him.
But British millionaires have shown that it wasn’t sudden.
“It’s been talked about what’s happening, but it’s not the way you said it, and it’s a little different long ago,” he said. “They’re probably excited again. Let’s take a look.”
In 2015, Ecclestone faced a demand from HMRC for payments of over £ 1 billion ($ 1.19 billion) in connection with family trusts.
He then took legal action, as HMRC did not respect the agreement signed in 2008 regarding the “Bambino Trust” established for the benefit of ex-wife Slavika and daughters Tamara and Petra. He said he was.
The Britons were banished as the pinnacle of F1 in 2017 when US-based Liberty Media took over the commercial rights to sports.
He has an office in London, but now spends most of his time abroad, with residences in Switzerland and Ibiza and a farm in Brazil.
But he continues to make headlines, and in May Brazilian police said he had been arrested after finding a pistol in his luggage while he was about to leave the country.
Ecclestone admitted to owning it, but said he was unaware that it was in his luggage. He was free to leave after paying his bail.
A businessman with a history of controversial comments was blamed for causing an attack when he defended Russian President Vladimir Putin as a “bullet-taker” and “first-class person” in a television interview in June.
In a video released Saturday, he apologized for not defending Russia’s invasion of Ukraine.
($ 1 = 0.8402 pounds)