Ex-Formula One boss Bernie Ecclestone has pleaded guilty to failing to declare £400million of overseas assets to the government.
Ecclestone, who turns 93 later this month, was due to face trial at Southwark Crown Court in November after previously denying the charge.The billionaire appeared at the same court today wearing a dark grey suit, supported by his third wife, Fabiana Flosi, to plead guilty to a single count of fraud.The 92-year-old said "I plead guilty" at Southwark Crown Court on Thursday while standing in the well of the court wearing a dark suit and grey tie.
The charge stated Ecclestone, who has three grown-up daughters, Deborah, Tamara and Petra, and a young son, Ace, had "established only a single trust, that being one in favour of your daughters and other than the trust established for your daughters you were not the settlor nor beneficiary of any trust in or outside the UK". Before his guilty plea, he had been due to face trial in November on the single fraud charge.
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