Former Formula One boss Bernie Ecclestone will be charged with fraud by false representation following a government investigation into his overseas assets, British prosecutors say.
Chief Crown Prosecutor Andrew Penhale on Monday said after reviewing evidence from the tax office, authorities have authorised a charge against Ecclestone over his failure to declare overseas assets worth more than £400 million ($707 million).
Simon York, of Her Majesty’s Revenue and Customs, said the announcement followed a “complex and worldwide” investigation into the 91-year-old businessman’s finances.
“The criminal charge relates to projected tax liabilities arising from more than £400 million of offshore assets which were concealed from Her Majesty’s Revenue and Customs,” he said.
The case is expected to be heard at Westminster Magistrates’ Court in London on August 22.