Former Formula 1 CEO Bernie Ecclestone has been ordered to pay $800 million after pleading guilty to tax fraud in court in the United Kingdom. Ecclestone had previously entered a not guilty plea to the charge relating to a trust held in Singapore, having not disclosed it to the government back in 2…

Former Formula 1 CEO Bernie Ecclestone has been ordered to pay $800 million after pleading guilty to tax fraud in court in the United (…)

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A powerhouse in the F1 world, Bernie Ecclestone is the very reason why Formula One still exists today. A man who has stood the test of time, and moulded…

A powerhouse in the F1 world, Bernie Ecclestone is the very reason why Formula One still exists today. A man who has stood the test of time, and moulded the sport we love into a global powerhouse, helped to transform the sport at a time when drivers and teams alike were unhappy with the state of play.

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Bernie Ecclestone originally pleaded not guilty to the charge in August of last year.

Former Formula 1 boss Bernie Ecclestone has admitted to fraud for failing to declare £400 million in a trust. He initially denied the charges but pleaded guilty in court on Thursday. Ecclestone failed to disclose a bank account in Singapore that held approximately $650 million. When asked if he had connections to other trusts, Ecclestone falsely answered “No.” He now acknowledges that he should not have provided misleading information and accepts that he owes taxes in relation to these matters. Ecclestone was the head of Formula 1 for many years…

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