Like no other, Bernie Ecclestone’s name is associated with Formula 1. Now the Brit is on trial for allegations of fraud.
jFormer Formula 1 boss Bernie Ecclestone with Sebastian Vettel at the 2019 Brazilian Grand Prix.
(dpa)
The first hearing (11:00 a.m. CEST) in the criminal trial against former Formula 1 boss Bernie Ecclestone is scheduled for this Monday in London. The 91-year-old must appear in person at Westminster Magistrates’ Court, according to the British news agency PA. The billionaire is accused of not properly declaring assets abroad of more than 400 million pounds (around 453 CHF) to the British tax authorities. The charge is fraud by misrepresentation.
According to the indictment, Ecclestone is said to have established only one trust abroad, the beneficiaries of which are his three daughters Deborah (67), Tamara (38) and Petra (33). However, he himself wanted to benefit from the undeclared assets abroad. This is the result of complex and global investigations by the finance and tax authority HMRC (Her Majesty’s Revenue and Customs).
“HMRC is on the side of honest taxpayers and we will crack down wherever we suspect tax fraud. Our message is clear – no one is out of reach,” said HMRC’s chief of fraud investigations, Simon York, according to a statement from prosecutors.
Would “walk through fire” for Putin
It is not the first time that Ecclestone is on trial. Because of the sale of Formula 1 to the investment company CVC in 2006, Ecclestone had to answer in April 2013 as a defendant in Munich and face charges of bribery. In August of the same year, the case was dropped for a fee of $100 million. In January 2017, Ecclestone was removed as CEO by new Formula 1 owners Liberty Media.
Since taking over the advertising and television rights at the end of the 1970s, Ecclestone had shaped Formula 1 like no other. The Brit, who is just under 1.60 meters tall, made the series as a powerful managing director into a global and billion-dollar company. Ecclestone kept opening up new markets, and he did not shy away from politically controversial countries and rulers. With his opinion on dictatorships and other controversial statements, he repeatedly caused a lack of understanding and scandals.
Most recently, he drew attention to himself with statements about Russian President Vladimir Putin. Ecclestone said that by invading Ukraine, Putin was just doing something “that he thought was right for Russia.” The Kremlin boss is a “first-class personality” for which he will still “walk through fire”. Formula 1 distanced itself. Ecclestone later backtracked and said he was sorry if he had upset anyone with his statements – he didn’t want that.