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Ecclestone pleads guilty for fraud - settles with HMRC
Former F1 supremo Bernie Ecclestone has pleaded guilty to fraud in a case involving £400 million of offshore assets domiciled in Singapore. Last year, charges were brought against Ecclestone by a prosecutor for the UK's Crown Prosecution Service, acting on behalf of for Her Majesty’s Revenue and Customs (HMRC). The prosecutor was authorized to charge Ecclestone with fraud by false representation and a failure to declare overseas assets worth more than £400 million. The 92-year-old, whose net worth is estimated at £2.5 billion ($3 billion), initially entered a not guilty plea and was granted unconditional bail ahead of the court case. The charge was the result of a "complex and...
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