Bernie Ecclestone, the former boss of Formula 1, has been given a suspended sentence after pleading guilty to fraud.
It seems Bernie did not declare more than £400m held in a trust in Singapore when asked by tax authorities in 2015.
Mr E has agreed to repay almost £653m to HM Revenue and Customs in a civil settlement.
Wow, a £253m windfall profits for HMRC; I wonder if they tax on it?
Bernie is a former racing car driver in Formula 1; he drove in the 1958 Monaco GP but failed to qualify.
He then moved to team management and bought the Brabham, one of the GP’s finest teams.
When part of F1 management, he was an advocate for safety; some felt this was prompted by the death of two of his drivers, Lewis Evans and Jochen Rindt.
One thing is for sure: Bernie has always been controversial.
He is known for his relentless energy despite having a triple-coronary heart bypass.
He once owned Queens Park Rangers Football Club with Laksmi Mittal and Flavio Briatore.
Bernie was robbed at gunpoint.
He once praised Hitler for his leadership, resulting in significant fallout.
He turned down a knighthood in the early 2000s.
As to his tax problems, Bernie’s advisers said, ‘He now accepts that SOME tax is due in relation to these matters.’
The judge summed up. ‘There is a realistic prospect of rehabilitation as demonstrated by your efforts to settle your tax affairs.’
