Former Formula 1 boss Bernie Ecclestone on Monday denied a fraud charge over his alleged failure to declare millions of pounds (dollars) in overseas assets.
Ecclestone, 91, entered a not guilty plea when he appeared at Westminster Magistrates’ Court in London for a brief hearing.
Prosecutors issued a charge of fraud by false representation between July 2013 and October 2016 after British tax officials conducted a worldwide investigation into Ecclestone’s finances.
Prosecutor Robert Simpson told the court that Ecclestone failed to declare a trust in Singapore with a bank account containing about $650 million when asked about overseas trusts in which he was involved.
The business tycoon, dressed in a three-piece suit, was escorted out of the court building by security guards and his legal team. He was granted unconditional bail ahead of his next appearance at Southwark Crown Court on September 19.
Ecclestone ran Formula One races and controlled the sport for four decades, from the 1970s until 2017, when he stepped down as chief executive and Liberty Media took over the series.
He was arrested in Brazil in May for carrying a gun in his luggage while boarding a plane.
- In:
- sports
- Fraud
- Formula One
- United Kingdom
- London
- crime
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