Former Formula One boss Bernie Ecclestone has pleaded guilty to fraud after failing to declare over £400 million held in a trust in Singapore to the government. The 92-year-old made his admission at Southwark Crown Court on Thursday, standing in the well of the court wearing a dark suit and grey tie.
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The charges against Ecclestone relate to an incident on July 7, 2015, when he neglected to disclose a trust in Singapore, which held a bank account containing approximately $650 million US dollars, equivalent to £400 million at that time.
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