Ex-Formula One boss Bernie Ecclestone arrives at court charged with fraud by false representation

Former Formula One boss Bernie Ecclestone has arrived in court where he is charged with fraud by misrepresentation.

The 92-year-old, accused of concealing more than £400m from British tax authorities, is at Southwark Crown Court for a further case management hearing this morning.

He is accused of falsely claiming that he had only established a single trust for his daughters in an alleged failure to disclose foreign assets to the tax collector.

His trial is scheduled to begin on November 15 of this year.

Prosecutor Robert Simpson previously said: “The charge stems from an Revenue and Customs investigation into Mr Ecclestone.

Bernie Ecclestone (left) arrives at Southwark Crown Court, London, for a hearing; in the photo on the right is his wife Fabiana Flosi

‘Revenue and Customs instigated an investigation into Mr Ecclestone’s finances [and] During the trial of that investigation, he was questioned about the foreign placed trusts in which he was involved.

“The Crown bases its allegation on the fact that it failed to disclose a trust in Singapore with a bank account containing approximately $650 million.”

According to the charge, Ecclestone, who has three daughters, Deborah, 68, Tamara, 38, and Petra, 34, made a false statement, namely, “he established a single trust, one in favor of his daughters.”

He allegedly told authorities: “other than the trust established for your daughters, you were not the settlor or beneficiary of any trust within or outside the UK.”

Former Formula One boss Bernie Ecclestone arrives at Southwark Crown Court today for a hearing

Earlier, Chief Crown Prosecutor Andrew Penhale said: “The CPS have reviewed a file of evidence from HMRC and have authorized a charge against Bernard Ecclestone of fraud by misrepresentation in respect of his failure to state to HMRC about the existence of offshore assets believed to be worth over £400m.

Simon York, director of the Fraud Investigation Service (FIS), HMRC, added earlier: ‘We can confirm that a charge of fraud by misrepresentation has been authorized against Bernard Ecclestone. This follows a complex and worldwide criminal investigation by HMRC’s Fraud Investigation Service. The criminal charge relates to projected tax liabilities arising from more than £400m of offshore assets being concealed from HMRC.

‘HMRC is on the side of honest taxpayers, and we will crack down where we suspect tax fraud. Our message is clear: no one suspected of tax fraud is beyond our reach.

‘We remind people to refrain from commenting or sharing information that could prejudice the proceedings in any way. This is now a matter for the courts, and we will have no further comment.’