worms Formula One boss Bernie Ecclestone is to appear in court for alleged failure to declare £400m in foreign assets to the government.
Ecclestone, 91, is expected to appear in person at Westminster Magistrates’ Court Monday to be charged with fraud by false representation between 13 July 2013 and 5 October 2016.
According to the court record, the business magnate claimed that he had “established only one trust, namely one for the benefit of your daughters”.
He is also said to have said that “aside from the trust set up for your daughters, you were not the founder or beneficiary of any trust in or outside the UK”.
Ecclestone, who has three grown daughters, Deborah, 67, Tamara, 38, and Petra, 33, are said to have made the statements “with the intent of making a profit, namely, unlisted, for yourself”.
The charges against the billionaire, whose address is listed in Knightsbridgecentral Londonwas authorized by the Crown Prosecution Service (CPS) last month after an investigation by HM Revenue and Customs (HMRC), which said the investigation was “complex and global”.
Chief Prosecutor Andrew Penhale said at the time: “The CPS has reviewed a file of evidence from… HMRC and has cleared charges against Bernard Ecclestone of false representation fraud related to his failure to report to HMRC the existence of assets abroad believed to be worth more than £400m.”