With “quarrelsome” Bernie Ecclestone is probably still described very cautiously. Now the Putin fan and longtime Formula 1 boss has to answer to the court again. British authorities accuse him of not having reported assets of around 473 million euros.
Former Formula 1 godfather Bernie Ecclestone is once again in trouble with the judiciary. In England, the controversial manager is accused of fraud, according to which he is said to have concealed assets of over 400 million pounds (around 473 million euros) from the British tax authority. The case is due to be heard for the first time on August 22 in London’s Westminster Magistrates’ Court. It is still unclear whether the 91-year-old Ecclestone has to be present in person at the appointment.
“We can confirm that a misrepresentation fraud charge has been admitted against Bernard Ecclestone,” said Simon York of the IRS. “This is the outcome of a complex and global criminal investigation by the Fraud Investigations Division.” The authority is “on the side of the honest taxpayers, and we will take tough action wherever we suspect tax fraud. Our message is clear: nobody is unreachable for us.”
Prosecutor Andrew Penhale recalled that Ecclestone has a “right to a fair trial”: “It is extremely important that no reports, comments or information are published on the Internet that could in any way affect this trial.” Theoretically, a sentence of up to ten years imprisonment is possible.
Ecclestone was on trial in Munich almost ten years ago. In July 2013, the public prosecutor brought charges of bribery and incitement to breach of trust in a particularly serious case in the course of the sale of Formula 1 shares. In August 2014, the trial was dropped on payment of a $100 million fine. Ecclestone’s personal wealth was last estimated at around £2.5 billion.
Ecclestone has shaped Formula 1 like no other since taking over the advertising and television rights at the end of the 1970s. The Brit, who is just under 1.60 meters tall, made the series a global and billion-dollar company as a powerful and sometimes authoritarian managing director. 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 explosive statements, he repeatedly caused a lack of understanding and scandals. In January 2017, Ecclestone was dismissed as managing director by the new Formula 1 owners Liberty Media.
