A court in London announced on Tuesday that former Formula One boss Bernie Ecclestone would go on trial in October of next year on allegations of failing to report a multi-million pound trust in Singapore to the British tax authorities.
Ecclestone, 91, was accused in July with failing to disclose more than £400 million in foreign assets to the UK authorities. He vigorously refutes the charges.
He arrived in the rear of a white Range Rover on Tuesday to make his appearance at London’s Southwark Crown Court.
Ecclestone appeared in court wearing spectacles, a dark gray three-piece suit, a white shirt, and a grey tie. Due to hearing issues, Ecclestone uncharacteristically sat behind his attorneys rather than in the dock.
Judge Deborah Taylor set the trial date for October 9, 2023 while stating that it may go on for up to six weeks while his wife watched from the public gallery.
The British billionaire, whose estimated net worth is $3 billion, is generally recognized for changing F1’s economic landscape.
He gained control of the sport via the sale of broadcast rights in the 1970s, and up until January 2017, he served as the CEO of Formula One Group.
Following a “complex and global” investigation by HM Revenue and Customs, the Crown Prosecution Service, which pursues charges in England and Wales, said it filed the case for “fraud by false representation.”
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