Former F1 boss Bernie Ecclestone charged with fraud by the CPS over failure to declare £400m assets
Former F1 racing boss Bernie Ecclestone has been charged with fraud by the Crown Prosecution service over £400m of assets he failed to declare.
The 91-year-old businessman was accused of the crime by false representation, with the CPS saying it authorised the charge after reviewing evidence from HMRC.
It was made “in respect of his failure to declare to HMRC the existence of assets held overseas believed to be worth in excess of £400m”, said Chief Crown Prosecutor, Andrew Penhale.
“The Crown Prosecution Service reminds all concerned that criminal proceedings against this defendant are now active and that they have a right to a fair trial. It is extremely important that there should be no reporting, commentary or sharing of information online which could in any way prejudice these proceedings.”
The director of Fraud Investigation Service (FIS) at HMRC, Simon York, confirmed the charge had been authorised, adding it “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.”