Bernie Ecclestone pleads not guilty in fraud case over US$650 million of foreign assets
- Former F1 boss Bernie Ecclestone has appeared in court to deny a charge of fraud
- Ecclestone was charged with failing to declare assets held in a Singapore bank of around US$650 million
Formula One mogul Bernie Ecclestone denied fraud accusations in the UK over undeclared assets held in a Singapore bank of around US$650 million.
The 91-year-old Ecclestone appeared at a London court for the first time Monday to indicate that he’d plead not guilty to the single count of fraud.
Ecclestone was charged with failing to declare the overseas account following an investigation into his finances by the tax authority, Robert Simpson, a prosecution lawyer, said.
Ecclestone previously told investigators that he’d established a single trust in favour of his two daughters, Simpson said. The charge relates to false representation that took place between July 2013 and October 2016.
The tycoon, who was granted unconditional bail, will be tried at Southwark Crown Court. The next hearing is scheduled September 19. Ecclestone was granted unconditional bail ahead of his next appearance.