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Ecclestone Pleads Not Guilty in Fraud Case Over £400 Million of Foreign Assets

  • F1 mogul charged with failing to declare $650 million account
  • Bernie Ecclestone’s case sent to higher court for trial
Bernie Ecclestone arrives at The City of Westminster Magistrates Court in London on Aug. 22.

Bernie Ecclestone arrives at The City of Westminster Magistrates Court in London on Aug. 22.

Photographer: Chris J Ratcliffe/Getty Images

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Formula One mogul Bernie Ecclestone denied fraud accusations in the UK over undeclared assets held in a Singapore bank of around $650 million.

The 91-year-old Ecclestone appeared at a London court for the first time Monday to indicate that he’d plead not guilty to the single count of fraud. Ecclestone was charged with failing to declare the overseas account following an investigation into his finances by the tax authority, Robert Simpson, a prosecution lawyer, said.