Ex-Formula One boss Bernie Ecclestone faces trial in October next year accused of failing to declare more than £400million in a trust in Singapore to the Government.
The 91-year-old appeared at Southwark Crown Court on Tuesday charged with a single count of fraud by false representation between July 13 2013 and October 5 2016.
The billionaire, who will turn 92 later this month, was charged following an investigation by HM Revenue and Customs (HMRC) into his finances.
He is alleged to have failed to declare a trust in Singapore with a bank account containing around 650m US dollars as part of the probe, which would have allowed the business magnate to draw a line under any previous tax irregularities.
Ecclestone arrived at court in the back of his white Range Rover, with a personalised number plate, before his driver opened the door for him.
His wife, Fabiana Flosi, was in the same car but entered the building separately as Ecclestone faced the waiting media photographers and camera operators.
Wearing glasses, a dark grey three-piece suit, white shirt and grey tie with blue stripes, he was allowed to sit in court behind his lawyers rather than in the dock because of his hearing difficulties, while his wife watched from the public gallery.
Ecclestone stood to confirm his name before prosecutor Alexander Langhorn and Clare Montgomery KC, defending, asked for time to discuss directions.
When the hearing resumed, the defendant was not asked to formally enter a plea and Judge Deborah Taylor fixed a trial date for October 9 next year.
Langhorn said the trial is expected to last up to six weeks, potentially sitting half days because of the “defendant’s fitness to participate”, while the judge said he may not be required “to be present throughout”.
Ecclestone previously indicated he would enter a not guilty plea at a hearing at Westminster Magistrates’ Court in August.
The charge alleges that Ecclestone, who has three grown-up daughters – Deborah, 67, Tamara, 38, and Petra, 33 – and a young son, Ace, allegedly made a representation to officers of HMRC, “which was, and which he knew was or might have been, untrue or misleading”.
The particulars state that Ecclestone claimed “he had established only a single trust, that being one in favour of his daughters” and “other than the trust established for his daughters he was not the settlor nor beneficiary of any trust in or outside the UK”.
The charge against him was authorised by the Crown Prosecution Service (CPS) in July following an investigation by HMRC, which said the probe had been “complex and worldwide”.
Chief Crown Prosecutor Andrew Penhale said at the time: “The CPS has reviewed a file of evidence from HMRC and has authorised a charge against Bernard Ecclestone of fraud by false representation in respect of his failure to declare to HMRC the existence of assets held overseas believed to be worth in excess of £400 million.”
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here