Last Updated: 22/08/22 11:47am
Former Formula 1 boss Bernie Ecclestone has denied a charge of fraud over his alleged failure to declare overseas assets worth more than £400m.
Ecclestone, 91, entered a not guilty plea as he appeared at Westminster Magistrates Court in London for a brief hearing on Monday.
Prosecutors authorised a charge of fraud by false representation between July 2013 and October 2016 after British tax officials carried out a worldwide investigation into Ecclestone’s finances.
The business magnate was granted unconditional bail ahead of his next appearance at Southwark Crown Court on September 19.
Speaking last month, Simon York from HMRC said that the investigation into Ecclestone had been “complex and worldwide”.
“The criminal charge relates to projected tax liabilities arising from more than £400m of offshore assets which were concealed from HMRC,” he said.
“HMRC is on the side of honest taxpayers and we will take tough action wherever we suspect tax fraud. Our message is clear – no one is beyond our reach.”
Ecclestone headed F1 racing and controlled the sport for four decades from the 1970s to 2017.
©2022 Sky UK