London Daily

Focus on the big picture.
Saturday, Jul 26, 2025

Former Formula One supremo Ecclestone charged with UK tax fraud

Former Formula One supremo Ecclestone charged with UK tax fraud

Former Formula One supremo Bernie Ecclestone has been charged with fraud over a failure to declare more than 400 million pounds ($477 million) of overseas assets to the British tax authority, prosecutors said on Monday.
The Crown Prosecution Service said Ecclestone, 91, faced one count of fraud by false representation.

"This follows a complex and worldwide criminal investigation by HMRC's Fraud Investigation Service," said Simon York, Director at the Fraud Investigation Service of Her Majesty's Revenue and Customs (HMRC).

The first hearing in his case is due to be held on Aug. 22 at London's Westminster Magistrates Court.

Contacted by Reuters in Ibiza, Ecclestone said he was yet to see the details.

"I haven't seen that so I don't know so I can't comment," he said when the statement was read to him.

The British billionaire indicated it had not come out of the blue, however.

"It's something that has been talked about happening, but not in the way you said, something a little bit different to that, quite a while ago," he said. "They've probably got all excited again. Let's see what happens."

In 2015, Ecclestone faced a demand from HMRC for payment of more than 1 billion pounds ($1.19 billion) in relation to a family trust.

He said then that HMRC had not respected an agreement made in 2008 over the 'Bambino Trust', set up for the benefit of his ex-wife Slavica and daughters Tamara and Petra, and he was taking legal action.

The Briton was ousted as Formula One supremo in 2017 when U.S.-based Liberty Media took over the sport's commercial rights.

He maintains an office in London but now spends most of his time abroad, with residences in Switzerland and Ibiza as well as a farm in Brazil.

He has continued to make headlines however, and in May Brazilian police said they had arrested him after finding a handgun in his luggage as he was trying to leave the country.

Ecclestone acknowledged owning it but said he was unaware it was in his luggage. He was freed to leave after paying bail.

The businessman, who has a history of controversial comments, caused offence and drew condemnation in June when he defended Russian President Vladimir Putin in a television interview as a "first class person" he would "take a bullet" for.

He apologised in a video released on Saturday, saying he was not defending the Russian invasion of Ukraine.

($1 = 0.8402 pounds)
Newsletter

Related Articles

0:00
0:00
Close
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
×