Motor sport

Bernie Ecclestone will face fraud charges after tax investigation

Bernie Ecclestone’s incredible story took another twist in July when it was announced he would face fraud charges after an investigation by UK tax authorities.

The charges relate to the alleged discovery of undeclared assets worth more than £400million. The UK’s Crown Prosecution Service (CPS) said it had “reviewed an evidence file from HMRC and cleared a charge against Bernard Ecclestone of fraud by misrepresentation in relation to his failure to report to HMRC the existence of assets held overseas believed to be worth more than £400million.The investigation has been dubbed Operation Gauloise by authorities.

Ecclestone has remained a vocal figure in F1, despite selling most of his stake to Liberty Media in 2017. He is credited with making the sport the most valuable motor racing franchise in the world alongside Max Mosley, who died earlier this year.

Ecclestone has long divided the opinions of F1 fans, with some criticizing the direction he has taken the sport – and his amassing of wealth from his deals. The 91-year-old has a personal fortune estimated at around £3billion. He is married to Brazilian-born Fabiana, who is vice-president of the FIA ​​and a member of the World Motor Sport Council.

The CPS said: “People are reminded to refrain from commenting or sharing information that could harm the proceedings in any way. This is now the business of the courts and we will not comment further.

The case is due to be heard at Westminster Magistrates’ Court on August 22.