The 91-year-old billionaire businessman failed to declare overseas assets believed to be more than £400m, investigators said. The charge was approved by the Crown Prosecution Service (CPS) on Monday following an investigation by Revenue and Customs (HMRC). Andrew Penhale, the Crown attorney general, said: “The CPS has reviewed a file of evidence from HMRC and has approved a charge against Bernard Ecclestone for fraud by false representation in relation to his failure to declare to HMRC the existence of assets held abroad believed to be worth more than £400m’. Simon York from HMRC said the investigation was “complex and global” and related to “anticipated tax liabilities arising from offshore property assets of more than £400m that were being withheld from HMRC”. “HMRC is on the side of honest taxpayers and we will take tough action wherever we suspect tax fraud,” he said. “Our message is clear – no one is beyond us.” The case will be heard for the first time at Westminster Crown Court on August 22. Mr Ecclestone’s long-running control of Formula 1 ended in 2017 when he stepped down as chief executive. According to Forbes, his fortune exceeds £2.5 billion.
