Bernie Ecclestone handed suspended prison sentence in tax fraud case

Former Formula One CEO pleads guilty to charge

Former Formula One CEO Bernie Ecclestone has been handed a suspended prison sentence after pleading guilty to a tax fraud charge.

The 91-year-old was accused of failing to declare £400 million of overseas assets to the UK tax authorities. He admitted the charge at Southwark Crown Court on Monday.

Ecclestone was given a 10-month suspended sentence and ordered to pay £100,000 in costs. He was also disqualified from being a company director for six months.

The judge said Ecclestone had "wilfully and deliberately" failed to declare his overseas assets, but took into account his age, ill health and lack of previous convictions.

Ecclestone was the CEO of Formula One from 1987 to 2017. He is one of the most successful businessmen in British history, with an estimated fortune of £3 billion.