My Other Passion Podcast: Vernon Davis Joins Us for Episode 5
Listen Now

Former F1 Group CEO Bernie Ecclestone Charged with Fraud

  • Bernie Ecclestone allegedly hid $477 million in assets from the British tax service.
  • The first hearing will be on Aug. 22.
Franz Pammer/GEPA via USA TODAY Sports

Bernie Ecclestone, the former CEO of Formula One Group, has been accused of fraud.

The Crown Prosecution Service has charged Ecclestone with one count of “fraud by false representation” for allegedly hiding $477 million in assets overseas.

The charge comes after a “complex and worldwide criminal investigation,” Simon York, the Director at the Fraud Investigation Service of Her Majesty’s Revenue and Customs, reportedly said.

The first hearing for the court will take place on Aug. 22.

Ecclestone, 91, spent more than 40 years running F1 and contributing to building it into the empire it is today. 

But off the track, he’s a controversial figure. The billionaire is also known for making remarks about Adolf Hitler and praising Vladimir Putin after he sent Russian forces to invade Ukraine (for which he later apologized).