F1 Mogul Ecclestone Facing Fraud Charges Over £400m in Overseas Assets
- Ex-F1 chief can be charged with fraud by false representation
- First court hearing in the prosecution set for August
Photographer: Charles Coates/Getty Images
Formula One mogul Bernie Ecclestone is facing fraud charges in the UK over undeclared overseas assets worth more than £400 million ($477 million).
The UK’s Crown Prosecution Service said Monday it authorized the charge of fraud by false representation for the 91-year-old’s failure to declare the assets after an investigation by HM Revenue and Customs. The prosecutor didn’t say where the assets were held.