19.7 C
Manchester
Thursday, July 3, 2025
Other SportsEcclestone avoids jail after pleading guilty to fraud

Ecclestone avoids jail after pleading guilty to fraud

Former Formula One boss Bernie Ecclestone was handed a 17-month jail term suspended for two years after pleading guilty to fraud on Thursday following a “complex and worldwide” tax investigation.

The 92-year-old was due to stand trial next month after previously denying guilt but changed his plea on Thursday and admitted failing to declare over £400million held in a trust in Singapore. He has now paid a settlement fee of over £652million to HMRC to bring the matter to a close.

Mr Justice Bryan spared Ecclestone a jail sentence after ruling there was no intention of deliberately seeking to dodge tax.

The Judge at Southwark Crown Court said, as reported by the Evening Standard: “There is a realistic prospect of rehabilitation as demonstrated by your efforts to settle your tax affairs.

“Immediate custody would result in significant harmful impact to your family, including your young child.”

On entering his guilty plea, Ecclestone’s representative Clare Montgomery KC said: “Obviously [Bernie] bitterly regrets the events that have led to this criminal trial.

“He had no intention to avoid paying tax and has always been willing to pay the tax that’s due.

“He simply didn’t know the answer to HMRC’s question, and he should have said ‘I don’t know’ instead of ‘no’.”

Solomon Shehata
Solomon Shehata
Solomon Shehata is an avid sports betting analyst with a keen eye for game dynamics. With a keen eye for sports like football, tennis, horse racing, and many more, Solomon has had his articles published across many different sites and platforms.
Latest

Blaugranagram Partners with 101 Great Goals to Deliver Deeper Fan-Focused Football Content

101 Great Goals has officially entered into a strategic content partnership with Blaugranagram, aiming to enrich the football experience for fans by combining their...

Left Behind by the Algorithm: AI Benefits Bosses, But Workers Struggle to Keep Up

• Senior managers are far more likely to use AI than junior staff, new study finds • 73% of leaders use AI each month, compared...

Craig Cornick Cleared of Hacking Charge in Long-Running ICO Case

A Manchester businessman has been found not guilty of computer hacking, following a lengthy investigation and prosecution brought by the Information Commissioner’s Office (ICO). Craig...

How offering coffee can reduce employee turnover

Staff come and go. It’s simply a fact of life. Or is it? In many cases, staff leave for a better opportunity or because...
Subscribe to our newsletter
Business Manchester will use the information you provide on this form to be in touch with you and to provide updates and marketing.
Don't miss

Craig Cornick Cleared of Hacking Charge in Long-Running ICO Case

A Manchester businessman has been found not guilty of computer hacking, following a lengthy investigation and prosecution brought by the Information Commissioner’s Office (ICO). Craig...

Mobile Cloud Mining App by AIXA Miner Set to Transform Crypto Access in 2025

AIXA Miner has unveiled its official mobile cloud mining application, signalling the beginning of a more flexible and user-friendly era in cryptocurrency mining. The platform,...

How offering coffee can reduce employee turnover

Staff come and go. It’s simply a fact of life. Or is it? In many cases, staff leave for a better opportunity or because...

Reply announces finalists for its first AI Music Contest

Reply, an international group specialized in the creation of new business models enabled by Artificial Intelligence, is proud to announce the finalists of the...

More News

F1 Australian Grand Prix 2025: Report, result, highlights as Norris savours ‘stressful’ win

Lando Norris praised McLaren's "amazing car" after overcoming unpredictable conditions to beat reigning champion Max Verstappen and win the F1 Australian Grand Prix 2025...

India vs Australia: Preview, expected lineups, how to watch on TV and prediction for ICC Champions Trophy 2025

India vs Australia: The State of Play India will be targeting a third consecutive appearance in the final when they face Australia in the first...

New Zealand vs India: Preview, expected lineups, how to watch on TV and prediction for ICC Champions Trophy 2025

New Zealand vs India: The State of Play Two teams in excellent form meet on Sunday when New Zealand and India collide in their final...