Bernie Ecclestone indicates not guilty plea to charge of fraud over ‘failure to declare £400m’
Former Formula One boss Bernie Ecclestone, 91, has indicated a not guilty plea to a charge of fraud over an alleged failure to declare £400million of overseas assets to the Government.
Ecclestone was met at Westminster Magistrates’ Court on Monday morning by photographers and camera operators who had been warned by court security not to mob him because of his age.
The business magnate’s white Range Rover, with a personalised number plate, passed three times before he left the vehicle dressed in a dark three-piece suit, white shirt and dark tie.
He faces a charge of fraud by false representation between 13 July 2013 and 5 October 2016.
According to the charge, he allegedly claimed he had ‘established only a single trust, that being one in favour of your daughters’.
He is also alleged to have said ‘other than the trust established for your daughters you were not the settlor nor beneficiary of any trust in or outside the UK’.
Ecclestone was walked in through the building’s exit by court security along with his legal team.
Chief Magistrate Paul Goldspring allowed him to stand outside the dock after his barrister Clare Montgomery QC said her client was ‘having a little bit of trouble hearing’.
Ecclestone stood in the dock to confirm his name, date of birth and address in Knightsbridge, central London, before indicating a not guilty plea to a charge of fraud by false representation between July 13 2013 and October 5 2016.
Ecclestone was granted unconditional bail ahead of his next appearance at Southwark Crown Court on September 19.
Former Formula One boss Bernie Ecclestone, 91 (pictured outside Westminster Magistrates Court this morning), has indicated a not guilty plea to a charge of fraud over an alleged failure to declare £400million of overseas assets to the Government
Ecclestone was met at Westminster Magistrates’ Court on Monday morning by photographers and camera operators who had been warned by court security not to mob him because of his age
Ecclestone – who has three grown-up daughters, Deborah, 67, Tamara, 38, and Petra, 33, and a young son, Ace – allegedly made the representations ‘intending to make a gain, namely not stated, for yourself’.
The charge against the billionaire, whose address is listed in Knightsbridge, central London, was authorised by the Crown Prosecution Service (CPS) last month after an investigation by HM Revenue and Customs (HMRC), which said the probe had been ‘complex and worldwide’.
Chief crown prosecutor Andrew Penhale said at the time: ‘The CPS has reviewed a file of evidence from HMRC and has authorised a charge against Bernard Ecclestone of fraud by false representation in respect of his failure to declare to HMRC the existence of assets held overseas believed to be worth in excess of £400 million.’
Mr Ecclestone splits his time between his coffee farm on the outskirts of Sao Paulo, Brazil, a mansion in Gstaad, Switzerland, and his villa in Ibiza, where he was last seen a fortnight ago during a disastrous media round where he praised Vladimir Putin.
He later apologised for describing Putin as a ‘first class person’ and that he would ‘take a bullet for him’. He missed the Austrian grand prix last month.
Simon York, Director, Fraud Investigation Service (FIS), HMRC, said in a statement sahred in July: ‘We can confirm that a fraud by false representation charge has been authorised against Bernard Ecclestone.
The business magnate’s white Range Rover, with a personalised number plate, passed three times before he left the vehicle dressed in a dark three-piece suit, white shirt and dark tie
Bernie Ecclestone faces a charge of fraud by false representation between 13 July 2013 and 5 October 2016
‘This follows a complex and worldwide criminal investigation by HMRC’s Fraud Investigation Service.
‘The criminal charge relates to projected tax liabilities arising from more than £400m of offshore assets which were concealed from HMRC.
‘HMRC is on the side of honest taxpayers and we will take tough action wherever we suspect tax fraud. Our message is clear – no one is beyond our reach.
‘We remind people to refrain from commentary or sharing of information that could prejudice proceedings in any way.
‘This is now a matter for the courts and we will not be commenting further.’
Model Tamara Ecclestone with Bernie Ecclestone at the time at F1 World Championship 2013
Petra, Mr Ecclestone and Tamara at a fundraising event in London at the Corinthia Hotel, 2017
Mr Ecclestone became a father for the fourth time when he welcomed son Ace last July with Fabiana, who he married in 2012.
The billionaire businessman is already a father to daughters Deborah, 66, Tamara and Petra Ecclestone.
Deborah was born to his first wife Ivy Bamford before he welcomed socialites Tamara and Petra with his second wife Slavica Radić.
Bernie married Fabiana three years after he divorced Croatian Slavica. He confirmed he and Fabiana were expecting a child to Swiss newspaper Blick last April.
