Simon York, director, fraud investigation service (FIS), HMRC, said the office can confirm that fraud by false representation charge has been authorised against Bernard Ecclestone.
“This follows a complex and worldwide criminal investigation by HMRC’s Fraud Investigation Service. The criminal charge relates to projected tax liabilities arising from more than £400m of offshore assets which were concealed from HMRC,” he said.
“We remind people to refrain from commentary or sharing of information that could prejudice proceedings in any way. This is now a matter for the courts and we will not be commenting further.”
Andrew Penhale, chief Crown prosecutor, said the Crown Prosecution Service has reviewed a file of evidence from HMRC and has authorised a charge against Mr 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.
“The Crown Prosecution Service reminds all concerned that criminal proceedings against this defendant are now active and that they have a right to a fair trial. It is extremely important that there should be no reporting, commentary or sharing of information online which could in any way prejudice these proceedings,” Mr Penhale said.
Mr Ecclestone, 91, ran Formula One, the world’s most lucrative motorsports tournament, almost single-handedly for 40 years until it was taken over by Liberty Media in 2017. During his time overseeing the sport Mr Ecclestone’s built up a vast fortune, estimated at £2.5 billion in May by the Sunday Times.
The first hearing in the tax case is scheduled to take place on 22 August at Westminster Magistrates’ Court.
