Former Formula 1 boss Bernie Ecclestone to the bench for tax fraud

Bernie Ecclestoneformer boss of Formula 1, was notified on Tuesday that will be judged next year for a charge of fiscal fraud related to more than $454 million of assets abroad.

The 91-year-old man appeared at the Southwark Crown Courtin London, accompanied by his wife Fabiana, after declaring not guilty of one count of fraud for false representation at a hearing held last month.

Ecclestone is accused of having made a “false or misleading” representation to the UK tax authority between July 2013 and October 2016, according to the Crown Prosecution Service indictment.

The indictment says the British billionaire dishonestly told the UK Treasury that he “established only a single trust” in favor of his daughters and that “other than the trust established for his daughters he was neither the settlor nor the beneficiary of any trust within or outside the UK”.

He was granted the unconditional bail before trialwhich is due to begin in the same court on October 9, 2023.

Ecclestone was ousted as Formula 1 boss in 2017, when US company Liberty Media took over commercial rights to the sport.

He maintains an office in London, but now spends most of his time abroad, with residences in Switzerland and Ibiza, as well as a farm in Brazil.

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