Bernie Ecclestone Handed Suspended Sentence for Fraud
Ex-Formula 1 Boss Pleads Guilty, Receives 17-Month Term
Tax Charges Bring Down Motor Racing Legend
In a stunning turn of events, Bernie Ecclestone, the former boss of Formula 1, has been sentenced to a suspended prison term after pleading guilty to a tax fraud charge.
Ecclestone, now 91, was accused of failing to declare assets worth £400 million ($527 million) when he applied for the Singapore residency in 2013. The fraud was discovered during an investigation by Her Majesty's Revenue and Customs (HMRC), the UK tax agency.
At a hearing at Southwark Crown Court in London, Ecclestone entered a guilty plea, admitting that he had made a "mistake" by not fully disclosing his assets.
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