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Former Components One boss Bernie Ecclestone shall be charged with fraud by false illustration over an alleged failure to declare £400m of abroad property to the federal government.
The cost in opposition to the 91-year-old was authorised by the Crown Prosecution Service (CPS) on Monday following an investigation by Income and Customs (HMRC).
Andrew Penhale, Chief Crown Prosecutor, stated: “The CPS has reviewed a file of proof from HMRC and has authorised a cost in opposition to Bernard Ecclestone of fraud by false illustration in respect of his failure to declare to HMRC the existence of property held abroad believed to be value in extra of £400m.
“The Crown Prosecution Service reminds all involved that felony proceedings in opposition to this defendant are actually energetic and that they’ve a proper to a good trial.
“This can be very essential that there needs to be no reporting, commentary or sharing of knowledge on-line which may in any means prejudice these proceedings.”
Simon York from HMRC stated that the investigation had been “advanced and worldwide”.
“We are able to verify {that a} fraud by false illustration cost has been authorised in opposition to Bernard Ecclestone,” he stated.
“This follows a posh and worldwide felony investigation by HMRC’s Fraud Investigation Service.
“The felony cost pertains to projected tax liabilities arising from greater than £400m of offshore property which have been hid from HMRC.
“HMRC is on the aspect of sincere taxpayers and we’ll take powerful motion wherever we suspect tax fraud. Our message is obvious – nobody is past our attain.
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“We remind folks to chorus from commentary or sharing of knowledge that would prejudice proceedings in any means. That is now a matter for the courts and we won’t be commenting additional.”
The case will first be heard at Westminster Magistrates’ Court docket on August 22.
Ecclestone was F1’s CEO earlier than Liberty Media’s takeover in 2017, and he left his emeritus place inside the sport in 2020.
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