Chaos Kicks Off for F1 Top Dog Bernie Ecclestone With $475 Million Sword Hanging Over His Head

Ever since last year, Bernie Ecclestone has been awaiting his trial to start. The trial is for the charges of him willfully holding back the information on his overseas assets. While the hearings will start later this year, he had a court appearance for which he arrived quite in style. Whether he committed fraud to the tune of $475 million will be decided later this year in October. But his personality remains the same given the suave he carried himself with, to the court.

Ecclestone, known for his glamorous lifestyle, as per the prosecution, failed to declare a Singapore trust worth more than $475 million to the Government between 2013 and 2016. As he appeared in Westminster Magistrate’s court last year in August, Ecclestone indicated his intention of pleading not guilty to the charges. As per reports, he is yet to formally enter a plea to the charge.

Ecclestone arrived at the court on Friday in a white Range Rover, as reported by Express UK. He wore a dark suit with a white shirt underneath with a striped tie. On top of that, he wore a black leather jacket with a fur collar. Bernie had his iconic circular dark spectacles on as he made his way inside the court.

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Deborah Taylor, the judge tasked with hearing Ecclestone’s case, fixed a provisional trial date for October 9, 2023. Prosecutor Alexander Langhorn indicated the trial could last as long as 6 weeks from the first date of hearing.

The charges Bernie Ecclestone is facing

Keeping the 92-year-old’s fitness in mind, he indicated they may carry the trial out in half-days. The judge, however, iterated that Ecclestone wasn’t required to be present for all trial dates. Hence, the hearings on all court dates may take place on full days.

As Chief Crown Prosecutor Andrew Penhale explained the charges, the Evening Standard quoted him as saying, “The CPS has reviewed a file of evidence from HMRC and has authorized 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 £400million [$475 million].”

HMRC’s Simon York said, “We can confirm that a fraud by false representation charge has been authorized against Bernard Ecclestone.”

“The criminal charge relates to projected tax liabilities arising from more than £400m [$475 million] of offshore assets which were concealed from HMRC.”

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Bernie is currently out on unconditional bail and shall remain so unless proven guilty in a court of law.