Reuters —Ex-Formula One boss Bernie Ecclestone was spared an immediate prison sentence on Thursday after he pleaded guilty to misleading Britain’s tax authority about overseas assets worth more than 400 million pounds ($492 million).
Ecclestone has also agreed a civil settlement with HM Revenue and Customs (HMRC), under which he will pay 652.6 million pounds covering tax, interest and penalties for 18 tax years between 1994 and 2022, prosecutor Richard Wright said.
The 92-year-old appeared at London’s Southwark Crown Court and pleaded guilty to one count of fraud by false representation, just over a month before he was due to stand trial.
Belinda Jiao/ReutersJudge Simon Bryan gave Ecclestone a 17-month prison sentence suspended for two years, meaning he will only go to jail if he commits another criminal offense during that time.
His lawyer Montgomery had noted at a previous hearing in January that Ecclestone was charged shortly after he made “unpopular” comments about Russian President Vladimir Putin.
Persons:
Reuters —, Bernie Ecclestone, Ecclestone, Richard Wright, Belinda Jiao, Simon Bryan, Clare Montgomery, Ecclestone “, ” Ecclestone, Andrew Penhale, ” Richard Las, “, Elizabeth Cook, Bryan, Mr Ecclestone, Montgomery, Vladimir Putin
Organizations:
Reuters, HM Revenue, Customs, Southwark Crown, HMRC, Brabham, Crown Prosecution Service
Locations:
Southwark, Singapore