Former Formula One boss Bernie Ecclestone received a 17-month sentence of imprisonment – suspended for two years – after pleading guilty to one count of fraud by false representation. Mr Ecclestone admitted that he gave a misleading answer to HM Revenue and Customs (HMRC) in 2015.
The Court heard that his answer was an “impulsive lapse of judgment” and he “did not know the true position” about his status as beneficiary or settlor of any other trust.
In sentencing Mr Ecclestone, the judge noted the “undoubted seriousness of [his] offending”, but took into account his low risk of reoffending, age, medical condition, and the impact of a prison sentence on his young child.
Mr Ecclestone has also agreed a civil settlement with HMRC, under which he will pay £652.6 million covering tax, interest and penalties for 18 tax years between 1994 and 2022.
Clare Montgomery KC together with Katherine Hardcastle represented Mr Ecclestone. She was instructed by Peter Binning from Corker Binning.