Ex-F1 boss Ecclestone to be charged with fraud over property

Former Formula One boss Bernie Ecclestone will likely be charged with fraud by false illustration following a authorities investigation into his abroad property, British prosecutors stated Monday.

Chief Crown Prosecutor Andrew Penhale stated after reviewing proof from the tax workplace, authorities have licensed a cost towards Ecclestone over his failure to declare abroad property value greater than 400 million kilos ($477 million).

Simon York, of Her Majesty’s Revenue and Customs, stated the announcement adopted a “complex and worldwide” investigation into the 91-year-old businessman’s funds.

“The criminal charge relates to projected tax liabilities arising from more than 400 million pounds of offshore assets which were concealed from Her Majesty’s Revenue and Customs,” he stated.

The case is predicted to be heard at Westminster Magistrates’ Court in London on Aug. 22.

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