Former Formula One boss Bernie Ecclestone pleaded not guilty on Tuesday to alleged fraud charges for failing to declare millions of dollars to the British government from a trust in Singapore.
The 92-year-old billionaire, who wore a black suit and dark glasses, confirmed his name at Southwark Crown Court in London before pleading not guilty to fraud between July 2013 and October 2016.
He will stand trial in November after a global investigation into his finances by the British Tax Office.
Prosecutors say he failed to declare a Singapore trust bank account containing $650 million when asked if there were any trusts outside the country in which he was involved.
They denounced that Ecclestone had maintained that he had set up “only one trust” for the benefit of his three daughters and that he was “not a beneficiary of any trust outside the United Kingdom”. The prosecution indicated that he had acted “dishonestly” and intended to profit from his statements.
Ecclestone drove Formula One and dominated the sport for four decades from the 1970s until 2017, when he stepped down as CEO and the series was taken over by Liberty Media.
The billionaire denied allegations of fraud last summer and formally declared not guilty on Tuesday.
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