Former Formula 1 boss Bernie Ecclestone pleaded guilty to tax fraud on Thursday. He is accused of failing to declare more than £400 million (C$682 million) in assets held in Singapore between 2013 and 2016.
• Also read: Bernie Ecclestone pleads not guilty to British tax fraud
• Also read: Former Formula 1 boss Bernie Ecclestone is accused of tax fraud in Great Britain
Bernie Ecclestone, 92, initially pleaded not guilty in August 2022, but eventually admitted the allegations against him at a hearing on Thursday in London.
He will therefore be sentenced at a later date instead of the trial that was scheduled to begin on November 16th.