Bernie Ecclestone faces fraud charges after he ‘failed to declare’ foreign assets in excess of £400million

Former Formula 1 boss Bernie Ecclestone has been charged with misrepresentation fraud after an HMRC probe into assets abroad believed to be worth more than £400million, Crown prosecutors have said.

Andrew Penhale, Chief Crown Prosecutor, said: “The CPS has examined an evidence file held by HMRC and approved a misrepresentation fraud charge against Bernard Ecclestone in relation to his failure to explain to HMRC the existence of assets held overseas , believed to be in existence and worth over £400m.

“The Crown Prosecution Service reminds all concerned that the criminal case against this defendant is now active and that he has the right to a fair trial. It is extremely important that there is no online reporting, commenting or sharing of information that could in any way prejudice this proceeding.”

Simon York, Director of HMRC’s Fraud Investigation Service, said: “We can confirm that Bernard Ecclestone has been charged with misrepresentation fraud. This follows a complex and global criminal investigation by HMRC’s Fraud Investigation Service. The charges relate to proposed tax liabilities arising from over £400m of offshore assets that have been concealed from HMRC.

“HMRC stands with honest taxpayers and we will crack down wherever we suspect tax fraud. Our message is clear – no one is beyond our reach.

“We remind people to refrain from commenting or sharing any information that could in any way affect the proceedings. This is now a matter for the courts and we will make no further comment.”

https://www.independent.ie/world-news/europe/britain/bernie-ecclestone-charged-with-fraud-after-failure-to-declare-overseas-assets-of-over-400m-41830647.html Bernie Ecclestone faces fraud charges after he ‘failed to declare’ foreign assets in excess of £400million

Fry Electronics Team

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