Former Formula 1 boss Bernie Ecclestone has been charged with fraud for misrepresentation, the Crown Prosecution Service said.
According to investigators, the 91-year-old billionaire businessman did not declare foreign assets believed to be worth more than £ 400 million.
The indictment was cleared by the Crown Prosecution Service (CPS) on Monday following a Revenue and Customs (HMRC) investigation.
Andrew Penhale, Crown chief prosecutor, said: “The CPS has reviewed an HMRC evidence file and has authorized an indictment against Bernard Ecclestone of fraud for misrepresentation regarding his failure to testify at HMRC. the existence of goods that were believed to be abroad. worth more than £ 400 million. “
Simon York of the HMRC said the investigation had been “complex and global” and related to “tax liability projects arising from more than £ 400 million of offshore assets that were hidden in HMRC”.
“HMRC is on the side of honest taxpayers and we will take tough action wherever we suspect tax fraud,” he said.
“Our message is clear: no one is out of our reach.”
The case will be heard for the first time in Westminster Magistrates’ Court on 22 August.
Mr. Ecclestone’s long-term control of Formula 1 ended in 2017, when he left the post of CEO.
It is believed to be worth more than 2.5 billion pounds, according to Forbes.