Ex-F1 boss Bernie Ecclestone escapes jail in UK court fraud case

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Ex-F1 boss Bernie Ecclestone escapes jail in UK court fraud case
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LONDON: Former Formula One supremo Bernie Ecclestone on Thursday received a non-custodial sentence after pleading guilty in a UK court to charges of f...

Ex-Formula One chief Bernie Ecclestone arrives at Southwark Crown Court in central London, on October 12, 2023/AFPPix: Former Formula One supremo Bernie Ecclestone on Thursday received a non-custodial sentence after pleading guilty in a UK court to charges of failing to declare a multi-million-pound trust in Singapore to the British tax authorities.

Ecclestone was charged last year over an alleged failure to declare more than £400 million of overseas assets to the UK government in 2015, and was due to stand trial in November. The flamboyant former second-hand car salesman ran Formula One with an iron fist for more than four decades, building it into a global empire with a cut-glass brand.Ecclestone paid $100 million to German authorities to end a high-profile bribery trial in 2014, which was linked to the sale of Formula One’s rights in 2006 and 2007.

Holder of a chemistry degree from Woolwich Polytechnic in southeast London, Ecclestone, known for his grey mop-top hairstyle, began his career selling cars and motorcycles in the capital, and also briefly drove race cars himself. In 1971 Ecclestone bought the Brabham team, becoming a member of the Formula One Constructors’ Association, the group that represented teams against what became the International Automobile Federation .

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