By Tom Hurley •
Published: 11 Jul 2022 • 15:05
Ex-F1 boss Bernie Ecclestone charged with '£400 million fraud.' Image: Studio 1a Photography/Shutterstock.com
Bernie Eccleston, who was in charge of F1 from 1978-2017, has been charged with fraud by false representation by the Crown Prosecution Service.
The director of Fraud Investigation Service (FIS), HMRC said that Ecclestone was charged following an extensive process looking into his accounts.
“This follows a complex and worldwide criminal investigation by HMRC’s Fraud Investigation Service,” said Simon York.
“The criminal charge relates to projected tax liabilities arising from more than £400m of offshore assets which were concealed from HMRC.”
In addition to his time in charge of F1, Ecclestone also owned London-based football club Queens Park Rangers from 2007-2011.
Ecclestone sold the team to when he sold QPR to Tony Fernandes, founder of airline AsiaAir and former boss of the Caterham F1 team.
York added a warning to others not to follow in Ecclestone’s footsteps.
“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, York said.”
Charles Leclerc won the most recent F1 Grand Prix held at the Red Bull Ring track in Austria on Sunday, July 10.
The 91-year-old Ecclestone recently backtracked on comments referring to Vladimir Putin as a “first-class and sensible person,” adding that he would “take a bullet for him.”
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