The Lemon Fool

Bernie Ecclestone pleads guilty to fraud

Bernie Ecclestone, the former boss of Formula One, has admitted fraud after failing to declare more than £400m held in a trust in Singapore.

The 92-year-old billionaire did not disclose the trust to the government in July 2015.

AiY(D)

Understandable that one's forgets things at 92
(or even at 84 back in 2015?)
Big fine coming?

scrumpyjack wrote:Understandable that one's forgets things at 92
(or even at 84 back in 2015?)
Big fine coming?

I don't know. He's lied to the court so I don't think they will take that on the chin.

AiY(D)

Press reports say he has already paid HMRC over £500 million (he has agreed a civil settlement of £652,634,836 plus costs) and now has been sentenced to 17 months in prison suspended for 2 years.

A little help for the nations debt

It's an easy mistake to make. Who hasn't lost a bit of change down the back of a sofa.

Most people won't understand but billionaires do have different problems to the rest of us. I often keep a quid in an account to keep it open so £400m.....

It's not that the £653m will be used efficiently by the government.

scrumpyjack wrote:Press reports say he has already paid HMRC over £500 million (he has agreed a civil settlement of £652,634,836 plus costs) and now has been sentenced to 17 months in prison suspended for 2 years.

A little help for the nations debt

..and gives him an interestion option for aged care - win win!

Gerry557 wrote:It's an easy mistake to make. Who hasn't lost a bit of change down the back of a sofa.

Most people won't understand but billionaires do have different problems to the rest of us. I often keep a quid in an account to keep it open so £400m.....

It's not that the £653m will be used efficiently by the government.

Of course it will

Just depends how the reason for it getting spent is sold to the electorate. I read a note by someone who works in law. They said one of the first cases they worked on was defending a woman who had claimed £800 in benefits for 2 more months than she should have. She received a prison term that wasn't suspended. The point being that Ecclestone has played the game and [highly likely] still walked away with far more than he should have in unpaid tax.

One rule for the goose and one for the ganda - anyway mustn't grumble Gromit

AiY(D)

Phew - 1.5 miles of HS2 paid by private sector.

T7