{"id":28167,"date":"2024-01-26T16:38:47","date_gmt":"2024-01-26T16:38:47","guid":{"rendered":"https:\/\/www.motorsinside.com\/en\/f1\/news\/32860-bernie-ecclestone-was-fined-second-heaviest-penalty-in-uk-for-tax-fraud"},"modified":"2024-01-26T16:38:47","modified_gmt":"2024-01-26T16:38:47","slug":"32860-bernie-ecclestone-was-fined-second-heaviest-penalty-in-uk-for-tax-fraud","status":"publish","type":"post","link":"https:\/\/www.motorsinside.com\/en\/f1\/news\/32860-bernie-ecclestone-was-fined-second-heaviest-penalty-in-uk-for-tax-fraud","title":{"rendered":"Bernie Ecclestone was fined the second heaviest penalty in the UK for tax fraud"},"content":{"rendered":"<p>The fine is very steep for the former Formula 1 moneyman. Bernie Ecclestone was sentenced in October 2023 by the United Kingdom&#8217;s justice system for not declaring \u00a3400 million, equivalent to \u20ac468 million, of assets in Singapore between 2013 and 2016.<\/p>\n<p>During his trial, the 93-year-old British man pleaded guilty to tax fraud and was sentenced to 17 months of suspended imprisonment, as well as a total fine of \u00a3652.6 million, which is approximately 764 million euros.<\/p>\n<p>This financial sanction is the second largest in the United Kingdom, behind the \u00a3664.5 million, approximately \u20ac778 million, imposed on Russian trader Alex Gerko, founder of XTX Market.<\/p>\n<h2>It was an honest mistake.<\/h2>\n<p>During the trial, Clare Montgomery, Ecclestone&#8217;s lawyer, invoked her client&#8217;s fragile health in order to avoid a prison sentence. The Briton, on his part, asserts that he did not intend to defraud his country&#8217;s tax authorities.<\/p>\n<p>&#8220;I have always paid taxes in the United Kingdom, every year. I have to take care of my affairs for my future. The issue concerned the tax I earned abroad, on which the British tax authorities believed I should pay British taxes. It was an honest mistake and I think everyone knew that. Of course, I understand there will be criticisms, but people do a lot of things in life for money,&#8221; Bernie Ecclestone told The Times.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bernie Ecclestone has been sentenced to 17 months of probation for tax fraud, as well as a heavy fine. The financial penalty imposed on the former Brabham team manager is the second largest in the history of his country.<\/p>\n","protected":false},"author":128,"featured_media":43750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,1749],"tags":[87],"class_list":["post-28167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-f1","category-news","tag-bernie-ecclestone"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bernie Ecclestone was fined the second heaviest penalty in the UK for tax fraud - Motorsinside English<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.motorsinside.com\/en\/f1\/news\/32860-bernie-ecclestone-was-fined-second-heaviest-penalty-in-uk-for-tax-fraud\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bernie Ecclestone was fined the second heaviest penalty in the UK for tax fraud - Motorsinside English\" \/>\n<meta property=\"og:description\" content=\"Bernie Ecclestone has been sentenced to 17 months of probation for tax fraud, as well as a heavy fine. The financial penalty imposed on the former Brabham team manager is the second largest in the history of his country.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.motorsinside.com\/en\/f1\/news\/32860-bernie-ecclestone-was-fined-second-heaviest-penalty-in-uk-for-tax-fraud\" \/>\n<meta property=\"og:site_name\" content=\"Motorsinside English\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-26T16:38:47+00:00\" \/>\n<meta name=\"author\" content=\"Guillaume Cangiano\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Guillaume Cangiano\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.motorsinside.com\/en\/f1\/news\/32860-bernie-ecclestone-was-fined-second-heaviest-penalty-in-uk-for-tax-fraud\",\"url\":\"https:\/\/www.motorsinside.com\/en\/f1\/news\/32860-bernie-ecclestone-was-fined-second-heaviest-penalty-in-uk-for-tax-fraud\",\"name\":\"Bernie Ecclestone was fined the second heaviest penalty in the UK for tax fraud - Motorsinside English\",\"isPartOf\":{\"@id\":\"https:\/\/www.motorsinside.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.motorsinside.com\/en\/f1\/news\/32860-bernie-ecclestone-was-fined-second-heaviest-penalty-in-uk-for-tax-fraud#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.motorsinside.com\/en\/f1\/news\/32860-bernie-ecclestone-was-fined-second-heaviest-penalty-in-uk-for-tax-fraud#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.motorsinside.com\/en\/wp-content\/uploads\/sites\/2\/2024\/01\/1500_edito_09DTWWmjefquaGsMqE99kgYf4erGORu7IiU5NuLkjTLGy3nsMZVXJP_NSOUoKXthQuKdhdjiMPk1TXd5NdcyaAc=.webp\",\"datePublished\":\"2024-01-26T16:38:47+00:00\",\"author\":{\"@id\":\"https:\/\/www.motorsinside.com\/en\/#\/schema\/person\/702a85f110259581121d458e8a320843\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.motorsinside.com\/en\/f1\/news\/32860-bernie-ecclestone-was-fined-second-heaviest-penalty-in-uk-for-tax-fraud\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.motorsinside.com\/en\/f1\/news\/32860-bernie-ecclestone-was-fined-second-heaviest-penalty-in-uk-for-tax-fraud#primaryimage\",\"url\":\"https:\/\/www.motorsinside.com\/en\/wp-content\/uploads\/sites\/2\/2024\/01\/1500_edito_09DTWWmjefquaGsMqE99kgYf4erGORu7IiU5NuLkjTLGy3nsMZVXJP_NSOUoKXthQuKdhdjiMPk1TXd5NdcyaAc=.webp\",\"contentUrl\":\"https:\/\/www.motorsinside.com\/en\/wp-content\/uploads\/sites\/2\/2024\/01\/1500_edito_09DTWWmjefquaGsMqE99kgYf4erGORu7IiU5NuLkjTLGy3nsMZVXJP_NSOUoKXthQuKdhdjiMPk1TXd5NdcyaAc=.webp\",\"width\":1500,\"height\":1000},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.motorsinside.com\/en\/#website\",\"url\":\"https:\/\/www.motorsinside.com\/en\/\",\"name\":\"Motorsinside English\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.motorsinside.com\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.motorsinside.com\/en\/#\/schema\/person\/702a85f110259581121d458e8a320843\",\"name\":\"Guillaume Cangiano\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.motorsinside.com\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a88b555744986cfe367151a136de2337a4850146c3c2337ec07783f48eea2472?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a88b555744986cfe367151a136de2337a4850146c3c2337ec07783f48eea2472?s=96&d=mm&r=g\",\"caption\":\"Guillaume Cangiano\"},\"url\":\"https:\/\/www.motorsinside.com\/en\/author\/gcangiano\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bernie Ecclestone was fined the second heaviest penalty in the UK for tax fraud - Motorsinside English","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.motorsinside.com\/en\/f1\/news\/32860-bernie-ecclestone-was-fined-second-heaviest-penalty-in-uk-for-tax-fraud","og_locale":"en_US","og_type":"article","og_title":"Bernie Ecclestone was fined the second heaviest penalty in the UK for tax fraud - Motorsinside English","og_description":"Bernie Ecclestone has been sentenced to 17 months of probation for tax fraud, as well as a heavy fine. 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