Bernie Ecclestone to face fraud charges after tax investigation

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

The charges relate to the alleged discovery of undeclared assets worth more than £400m. The UK’s Crown Prosecution Service (CPS) said it had “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 £400m.” The investigation was dubbed Operation Gallic by the authorities.

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

Ecclestone has long divided opinion among F1 fans, some critical of the direction he took the sport – and his accumulation of wealth from his deals. The 91-year-old has a personal fortune estimated to be around £3bn. He is married to Brazilian-born Fabiana, who is a vice-president of the FIA and a member of the World Motor Sport Council.

The CPS 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.”

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