Slapped With $475 Million Accusation, F1 Megalomaniac Bernie Ecclestone Finds Himself in Deep Water

Bernie Ecclestone has always been a controversial figure, whether in or outside of Formula 1. The 92-year-old never shies away from speaking his mind, sometimes at the cost of sounding insensitive. This time, however, the former F1 boss is not under the scanner for something he said, but for something he allegedly did. Ecclestone will face his long-awaited trial this year.

The F1 supremo, allegedly, failed to declare a Singapore trust worth more than $475 million to the Government between 2013 and 2016. Currently, out on unconditional bail, Ecclestone appeared at the Southwark Crown Court last year in October. Before the hearing, he indicated he will plead not guilty to the charge at Westminster Magistrates’ Court in August.

Bernie Ecclestone to face trial in October this year

Bernie is set to face the trial before Judge Deborah Taylor, who fixed a trial date for October 9, 2023. As per prosecutor Alexander Langhorn, the trial could last up to six weeks. Keeping Ecclestone’s fitness in mind, he indicated the trial may be carried out in half-days. However, the judge told he wasn’t required to be present on all days.

The Evening Standard quoted Chief Crown Prosecutor Andrew Penhale 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].”

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Despite amassing billions, Bernie is quite a frugal man. His daughter Tamara revealed he still haggles and loves to get a good discount on a deal. However, when it came to praising Elon Musk, he did not hold back.

Ecclestone praised Elon Musk, but there’s a catch

Before taking over Twitter, Elon Musk was popular among many for his ambitious ventures, Space X and Tesla. Particularly for Tesla, the company’s CEO gained the respect of a tough-to-please guy, Bernie Ecclestone.

Speaking with Autocar UK in 2020, Ecclestone said, “I think he’s fantastic. He has done an incredible job. He’s a real ballsy guy. There were times when people thought Tesla was going to disappear in the morning. He saved it. He’s prepared to do what it takes.”

“I’m not a guy who believes in democracy. I believe in dictatorship. He’s a dictator, and that’s why things work. So much has been achieved by dictators, not because of a democracy.”

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Ecclestone held a respectful opinion of Musk, however, he believed Tesla could not be compared to a brand like Ferrari. He thought Ferrari will never be forgotten, while Tesla won’t be special once more companies start making electric vehicles.