Bernie Ecclestone, who used to be in charge of Formula One, has admitted to committing fraud. He did this by not telling the government about his assets, which were worth over £400 million and located in other countries.
The extremely rich man who is 92 years old went to court in London today and said whether he is guilty or not guilty.
This means that he will not have to go to court next month for the same crime.
In June 2015, Ecclestone did not tell anyone about a trust he had in Singapore. This trust had a bank account with about 650 million US dollars in it. This money was worth about £400 million at that time.
The accusation says that he only created one trust for your daughters. He wasn’t the creator or receiver of any other trust in or outside the UK, apart from the one he made for your daughters.
Ecclestone has three adult daughters called Deborah, Tamara, and Petra, and a young son named Ace.
He controlled Formula One racing for about 40 years, starting from the late 1970s until 2017.
After he left his job, people have been saying bad things about him because he made some controversial comments about different topics.
In 2020, he said that in many situations black people are more racist than white people. Last year, he told Good Morning Britain that he still thinks Vladimir Putin is a really good person even though Russia invaded Ukraine.
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Bernie Ecclestone admitted guilt to a £400,million scam
