Former Fomula 1 Boss Bernie Ecclestone Given 17-month Suspended Prison Sentence
Ecclestone on Thursday pleaded guilty to fraud over a failure to declare £400m held in a trust in Singapore to the government; Ecclestone has reached a civil settlement with HMRC to pay £652.6m, covering 18 tax years; Sentenced to a 17-month jail term, suspended for two years.
Bernie Ecclestone, the former boss of Formula One, has admitted fraud after failing to declare more than £400m held in a trust in Singapore.
The 92-year-old billionaire did not disclose the trust to the government in July 2015.
Appearing at Southwark Crown Court on Thursday, he told the judge “I plead guilty” after having previously pleaded not guilty.
Ecclestone had been due to go on trial next month.
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