At 92, the former leader will not serve a prison sentence behind closed doors due to his advanced age
Bernie Ecclestone, 92, former Formula 1 boss from 1978 to 2017, was sentenced to 17 months in prison and ordered to pay 652.6 million pounds (about R$4 billion) in compensation for 18 years of taxes in the UK. The billionaire pleaded guilty, but will not have to serve a prison sentence behind closed doors due to his advanced age.
The former leader is accused of failing to declare taxes to the state agency Her Majesty’s Revenue and Customs. The amounts would reach up to £400 million or R$2.4 billion held in accounts in Singapore. Bernie had pleaded not guilty in August 2022.
The rich man’s lawyer, Christine Montgomery, said in the lawsuit that Bernie did not fail to pay his taxes on purpose and that the process is causing suffering.
– Mr Ecclestone’s intention was not to avoid paying taxes. He was always willing to pay the taxes due. His response was an impulsive error of judgment, his health is now fragile and the trial is causing “immense stress to him and those who love him.”
The prosecutor on the case, Richard Wright, said Bernie denied the existence of overseas accounts during testimony in 2015, contradicting facts demonstrated this year.
– Mr Ecclestone knew that his response could be false or misleading. Mr Ecclestone was not entirely clear on how ownership of the accounts in question was structured. Therefore, he did not know whether he was responsible for taxes, interest or fines in relation to the amounts passing through the accounts. Mr Ecclestone acknowledges that he acted incorrectly in answering the questions posed, as he ran the risk that the Ministry of Finance would not proceed with its investigation into his affairs. He now accepts that taxes must be paid in relation to these problems, he said.
Source: Terra
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