Ex-Formula One boss Bernie Ecclestone has admitted fraud after failing to declare more than £400million held in a trust in Singapore to the Government. The 92-year-old said “I plead guilty” at Southwark Crown Court on Thursday while standing in the well of the court wearing a dark suit and grey tie. On July 7, 2015, the billionaire failed to declare a trust in Singapore with a bank account containing around 650 million US dollars, worth about £400million at the time. The charge stated Ecclestone, who has three grown-up daughters, Deborah, Tamara and Petra, and a young son, Ace, had “established only a single trust, that being one in favour of your daughters, and other than the trust established for your daughters you were not the settlor nor beneficiary of any trust in or outside the UK”. Before his guilty plea, he had been due to face trial in November on the single fraud charge. The court heard Ecclestone had said “no” when asked by HMRC officers whether he had any links to any further trusts “in or outside the UK”. Prosecutor Richard Wright KC said: “That answer was untrue or misleading. “Mr Ecclestone knew his answer may have been untrue or misleading. “As of July 7, 2015, Mr Ecclestone did not know the truth of the position, so was not able to give an answer to the question. “Mr Ecclestone was not entirely clear on how ownership of the accounts in question were structured. “He therefore did not know whether it was liable for tax, interest or penalties in relation to amounts passing through the accounts. “Mr Ecclestone recognises it was wrong to answer the questions he did because it ran the risk that HMRC would not continue to investigate his affairs. “He now accepts that some tax is due in relation to these matters.” Read More FIA to review Qatar GP as ‘dangerous’ temperatures prompt driver complaints Lewis Hamilton and George Russell vent anger on radio after collision in Qatar Lewis Hamilton crashes out after first-corner collision with George Russell In his own words: Christian Horner on world champion Max Verstappen Angry Lance Stroll shoves personal trainer and storms out of interview Max Verstappen fastest in Qatar practice as he closes in on world championship

Stewart Cink has earned another trip to the U.S. Open at age 50

MELVILLE, N.Y.--(BUSINESS WIRE)--Jul 10, 2023--

Japan has emerged as a favorite at the Women’s World Cup led by surprising star Hinata Miyazawa

One inmate has been killed in an ongoing mass stabbing at the Fulton County Jail in Atlanta where former President Donald Trump was booked and had his mug shot taken earlier this month. More follows...

The latest on Sofyan Amrabat's proposed move to Man Utd - including what Fiorentina president Rocco Commisso has said about the transfer saga.

The Israel-Hamas war is sending investors in search of defensive assets.

The Rock and Diesel got into a fight in 2016 while they were filming 'The Fate of the Furious'

'The law requires anyone involved in an accident to stop and immediately report the accident to authorities,' said Prosecutor Karen McDonald

Jacksonville's mayor says multiple people have been fatally shot inside a Dollar General store in the city

Eleven letters sent by Napoleon Bonaparte, including dispatches from the Kremlin, have gone on sale following the blockbuster auction of the diminutive French emperor's...

Indian authorities have imposed a curfew, suspended internet service and deployed thousands of paramilitary forces to parts of northern Haryana state after deadly communal clashes