Ex-F1 chief Bernie Ecclestone denies fraud charges | Formula 1 News

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Former Formula 1 supremo Bernie Ecclestone© TSWT

Former Formula 1 supremo Bernie Ecclestone pleaded not guilty on Monday when he appeared in court in London on charges of multimillion-pound fraud. Ecclestone, 91, was charged in July for allegedly failing to declare more than £400 million ($473 million) in foreign assets to the UK government. The ex-motorsports boss arrived at Westminster Magistrates Court in central London in front of a crowd of photographers and camera crews.

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According to the indictment form, he is charged with failing to declare a trust in Singapore with a bank account of about $650 million.

In court, white-haired Ecclestone, dressed in a dark suit, spoke only to confirm his name and date of birth and give an address in Knightsbridge, west London.

Judge Paul Goldspring granted him unconditional bail until September 19 at Southwark Crown Court, South London.

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Ecclestone, a British businessman whose financial wealth is estimated at around $3 billion, is widely credited with transforming F1 commercially.

His control of the sport developed from the sale of television rights in the 1970s and he was chief executive of the Formula One Group until January 2017.

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The Crown Prosecution Service, which is filing a lawsuit in England and Wales, has brought the case for “false representation fraud” following a “complex and global” investigation by HM Revenue and Customs.

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(This story was not edited by The Switzerland Times staff and was generated automatically Platforms.)

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