Ex-Formula One boss Bernie Ecclestone spared jail after admitting fraud

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Ex-Formula One boss Bernie Ecclestone spared jail after admitting fraud
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Mr Justice Bryan said the offending was so serious that a fine and community order were not sufficient.

Ex-Formula One boss Bernie Ecclestone has been spared jail after admitting fraudulently failing to declare more than £400 million held in a trust in Singapore to the Government.

At Southwark Crown Court on Thursday, Ecclestone was handed a 17-month jail term, suspended for two years. The former racing driver said “I plead guilty” while standing in the well of the court, wearing a dark suit and grey tie. Outlining the issues in the case he would be sentencing Ecclestone for, Mr Justice Bryan told the defendant: “Towards the end of the meeting you were asked if, since the conclusion of the previous investigation in 2008, and excluding the trusts referred to so far in the course of the meeting, whether you were linked as a settlor or beneficiary to any other trust in or outside the United Kingdom.

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