Former F1 Boss Bernie Ecclestone Charged With Fraud Worth IDR 7.1 Trillion

JAKARTA – Former F1 boss Bernie Ecclestone has been charged with fraud. He is reported to have hidden assets worth £400 million or approximately IDR 7.1 trillion.

Bernie allegedly failed to report his assets overseas to British tax agency Her Majesty's Revenue and Customs (HMRC). There are indications that a 91-year-old entrepreneur made a false report.

The indications of fraud forced Bernie to face criminal charges. He is scheduled to appear before Westminster Magistrates Court on August 22.

"Crown Prosecution Service has reviewed the evidence file from HMRC and has confirmed the charge against Bernard Ecclestone of fraud by false representation in connection with his failure to state to HMRC the existence of assets held overseas," said Crown Prosecution Service Chief Andrew Penhale.

"CPS reminds all interested parties that criminal proceedings against these defendants are now active and that they have a right to a fair trial."

"It is imperative that there is no online reporting, commenting or sharing of information that could in any way harm this process," Penhale added.

Meanwhile, HMRC Fraud Investigative Services Director Simon York said the charges against Bernie were subject to a complex and worldwide criminal investigation.

"The criminal charges relate to a projected tax liability arising from more than £400 million of offshore assets concealed from HMRC," it said.

Despite these issues, Bernie last month made controversial comments in favor of Russian President Vladimir Putin. He said he would be ready to sacrifice for the president and support Russia's invasion of Ukraine.

Bernie led F1 for more than four decades. Ownership then changed hands to Liberty Media in 2017.