Bernie Ecclestone charged with fraud as ex-F1 boss accused of hiding over £400m in assets | F1 | Sport

Former F1 boss Bernie Ecclestone is set to be charged with fraud by false representation after HMRC launched an investigation into undeclared oversee assets said to be worth more than £400million. The Crown Prosecution Service have now authorised the charge after reviewing evidence from HMRC.

Chief crown prosecutor Andrew Penhale confirmed that Ecclestone will face charges “in respect of his failure to declare to HMRC the existence of assets held overseas believed to be worth in excess of £400m.

And he added: “The Crown Prosecution Service reminds all concerned that criminal proceedings against this defendant are now active and that they have a right to a fair trial. It is extremely important that there should be no reporting, commentary or sharing of information online which could in any way prejudice these proceedings.”

Meanwhile, the director of HMRC’s Fraud Investigation Service Simon York said: “We can confirm that a fraud by false representation charge has been authorised against Bernard Ecclestone. This follows a complex and worldwide criminal investigation by HMRC’s Fraud Investigation Service.

“The criminal charge relates to projected tax liabilities arising from more than £400m of offshore assets which were concealed from HMRC.HMRC is on the side of honest taxpayers and we will take tough action wherever we suspect tax fraud. Our message is clear – no one is beyond our reach.

“We remind people to refrain from commentary or sharing of information that could prejudice proceedings in any way. This is now a matter for the courts and we will not be commenting further.”

We’ll be bringing you the very latest updates, pictures, and video on this breaking news story.

For the latest news and breaking news visit:/sport

Stay up to date with all the big headlines, pictures, analysis, opinion, and video on the stories that matter to you.

Follow us on Twitter @DExpress_Sport – the official Daily Express & Express.co.uk Twitter account – providing real news in real-time.

We’re also on Facebook @DailyExpressSport – offering your must-see news, features, videos, and pictures throughout the day to like, comment, and share from the Daily Express, Sunday Express, and Express.co.uk.