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Former F1 champion Bernie Ecclestone arrives in court for tax fraud trial: Racing tycoon accused of hiding more than £400m from taxman in Singapore
- The former Formula One boss appeared for a hearing at Southwark Crown Court
- He is accused of falsely claiming that he had set up only one trust for his daughters
Former Formula One supremo Bernie Ecclestone has appeared in court charged with fraud by false representation over allegations he hid more than £400m from the British Inland Revenue in Singapore.
The 92-year-old motor racing tycoon is accused of falsely claiming to have set up just one trust for his daughters because he failed to declare overseas assets to the tax authorities.
He allegedly failed to declare a fund in Singapore with a bank account that held about US$650 million.
Mr Ecclestone appeared on London‘s Southwark Crown Court for a further case management hearing on Wednesday morning. His trial will begin on November 16 this year.
He arrived in the back of his white Range Rover with wife Fabiana Flosi, sporting a customized number plate, before the driver opened the door for him.

Former Formula One supremo Bernie Ecclestone has appeared in court charged with fraud by false representation over allegations he hid more than £400m from the British Inland Revenue in Singapore.

92-year-old auto tycoon accused of falsely claiming to have set up just one trust for his daughters after failing to declare overseas assets to tax authorities
Ecclestone is charged with one count of fraud by false representation between July 13, 2013 and October 5, 2016.
The allegation alleges that Ecclestone, who has three grown-up daughters – Deborah, 68, Tamara, 38, and Petra, 34 – allegedly made representations to HMRC officials ‘which were and which he knew to be or might be, untrue or misleading’.
The records state that Ecclestone, who is a great-grandfather and also has a young son, claimed that he “established only one trust for the benefit of his daughters” and “other than the trust established for his daughters, he was not the settlor or beneficiary of any of any trust in or outside the United Kingdom.
Ecclestone previously indicated that he would plead not guilty at a hearing at Westminster Magistrates’ Court last August.
The Sunday Times Rich List places Eccleston, who has been married three times, as the 65th richest person in the country with an estimated net worth of £2.5 billion.
At an earlier hearing, prosecutor Robert Simpson said: “The charge arises out of an HMRC investigation into Mr Eccleston.
‘The HMRC has launched an investigation into Mr Eccleston’s finances (and) during the judicial inquiry he was asked about any overseas funds he was involved in.

Mr Ecclestone appeared at London’s Southwark District Court on Wednesday morning for a further case management hearing. His trial will begin on November 16 this year

He arrived in the back of his white Range Rover with his wife Fabiana Flosi, sporting a customized number plate, before the driver opened the door for him

Ecclestone is charged with one count of fraud by false representation between 13 July 2013 and 5 October 2016
“The Crown bases its charge on the fact that it failed to disclose a fund in Singapore with a bank account containing approximately $650 million.”
The charge against him was approved by the Crown Prosecution Service (CPS) in July last year following what was said to be a “complicated and extensive” investigation.
Chief Crown Prosecutor Andrew Penhale previously said: “The CPS has reviewed HMRC’s evidence file and approved a charge against Bernard Eccleston for fraud by false representation in relation to his failure to declare to HMRC the existence of overseas assets believed to be of over £400 million.’
Ecclestone, of Knightsbridge, central London, is out on unconditional bail.
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