Bernie Ecclestone condemned by justice
The former big boss of Formula 1 has been sentenced to suspended prison by British justice. He was accused of tax fraud.
This is not his time. After revealing to the public that he was aware of Renault’s cheating to help Fernando Alonso win, in Singapore, in 2008, he is once again involved in a scandal.
The former owner of the Brabham stable, Bernie Ecclestone, was targeted by an investigation for tax fraud. In 2015, he had failed to declare more than 400 million pounds, placed in an account in Singapore. In front of the court, the nonagenarian pleaded guilty, this Thursday, October 12.
« These criminal proceedings are related to estimated tax debts, arising from over 400 million pounds of overseas assets, that have been hidden from HMRC. HMRC stands on the side of honest taxpayers, and we act firmly as soon as we suspect tax fraud. Our message is clear: no one is beyond our reach », reveals Simon York, director of fraud enforcement at HMRC.
17 months of suspended prison sentence
An agreement has reportedly been reached with HMRC [Her Majesty’s Revenue and Customs; a non-ministerial department of the United Kingdom government primarily responsible for the collection of taxes and the payment of certain services provided by the State]. It would then pay over 600 million pounds to cover its 18 years of fraud.
Despite this agreement, the Briton was sentenced to 17 months in prison, suspended. This therefore means that he will not serve any prison sentence. If he were to commit a new offense and be judged within two years, part or all of these 17 months would then have to be served behind bars.
