Ex-Formula One boss Bernie Ecclestone faces trial in October next year accused of failing to declare more than £400 million in a trust in Singapore to the Government.
The 91-year-old appeared at Southwark Crown Court on Tuesday charged with a single count of fraud by false representation between July 13 2013 and October 5 2016.
The billionaire, who will turn 92 later this month, was charged following an investigation by HM Revenue and Customs (HMRC) into his finances.
He is alleged to have failed to declare a trust in Singapore with a bank account containing around 650 million US dollars as part of the probe, which would have allowed the business magnate to draw a line under any previous tax irregularities.
Ecclestone arrived at court in the back of his white Range Rover, with a personalised number plate, before his driver opened the door for him.
His wife, Fabiana Flosi, was in the same car but entered the building separately as Ecclestone faced the waiting media photographers and camera operators.
Wearing glasses, a dark grey three-piece suit, white shirt and grey tie with blue stripes, he was allowed to sit in court behind his lawyers rather than in the dock because of his hearing difficulties, while his wife watched from the public gallery.
Ecclestone stood to confirm his name before prosecutor Alexander Langhorn and Clare Montgomery KC, defending, asked for time to discuss directions.
When the hearing resumed, the defendant was not asked to formally enter a plea and Judge Deborah Taylor fixed a trial date for October 9 next year.
Mr Langhorn said the trial is expected to last up to six weeks, potentially sitting half days because of the “defendant’s fitness to participate”, while the judge said he may not be required “to be present throughout”.
Ecclestone previously indicated he would enter a not guilty plea at a hearing at Westminster Magistrates’ Court in August.
The charge alleges that Ecclestone, who has three grown-up daughters – Deborah, 67, Tamara, 38, and Petra, 33 – and a young son, Ace, allegedly made a representation to officers of HMRC, “which was, and which he knew was or might have been, untrue or misleading”.
The particulars state that Ecclestone claimed “he had established only a single trust, that being one in favour of his daughters” and “other than the trust established for his daughters he was not the settlor nor beneficiary of any trust in or outside the UK”.
The charge against him was authorised by the Crown Prosecution Service (CPS) in July following an investigation by HMRC, which said the probe had been “complex and worldwide”.
Chief Crown Prosecutor Andrew Penhale said at the time: “The CPS has reviewed a file of evidence from HMRC and has authorised 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 £400 million.”
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article