Bernie Ecclestone

[dukeboy749r]

https://www.bbc.co.uk/news/uk-67088503" Target="_blank" rel="nofollow">Bernie Ecclestone pleads guilty to fraud https://w...

Edited by dukeboy749r on Thursday 12th October 11:32

[sugerbear]

Fine or prison?

[tim0409]

sugerbear said:

Fine or prison?

I very much doubt he would have pled guilty if there was a chance of a custodial sentence; I suspect a deal has been done for a large fine to be levied.

[pavarotti1980]

sugerbear said:

Fine or prison?

£652 million fine to HMRC

[Eric Mc]

dukeboy749r said:

https://www.bbc.co.uk/news/uk-67088503" Target="_blank" rel="nofollow">Bernie Ecclestone pleads guilty to fraud https://w...

Edited by dukeboy749r on Thursday 12th October 11:32

Link not working

[Cold]

pavarotti1980 said:

sugerbear said:

Fine or prison?

£652 million fine to HMRC

17 months inside, suspended for two years.

[CambsBill]

pavarotti1980 said:

sugerbear said:

Fine or prison?

£652 million fine to HMRC

That's a serious wedge by any standards, you'd have thought the government would be straight in front of a camera announcing how it's going to be spent to benefit the nation.

[Voldemort]

Lester Piggott went down for (a lot) less.

[pavarotti1980]

CambsBill said:

That's a serious wedge by any standards, you'd have thought the government would be straight in front of a camera announcing how it's going to be spent to benefit the nation.

I thought all fines just get spent on Xmas parties?

[rdjohn]

pavarotti1980 said:

sugerbear said:

Fine or prison?

£652 million fine to HMRC

That number was the size of the family trust in Singapore. It turned out he is a beneficiary, but I doubt that he would effectively have the whole trust confiscated.

That figure is only in BBC reporting.

[pavarotti1980]

rdjohn said:

That number was the size of the family trust in Singapore. It turned out he is a beneficiary, but I doubt that he would effectively have the whole trust confiscated.

That figure is only in BBC reporting.

No that is the amount from the civil settlement with HMRC. £652,634,836 to be exact as heard in Southwark Crown Court when he was sentenced

The hidden assets were £400m/$650m

[Blue62]

pavarotti1980 said:

No that is the amount from the civil settlement with HMRC. £652,634,836 to be exact as heard in Southwark Crown Court when he was sentenced

The hidden assets were £400m/$650m

It begs the question why, when you have that much wealth you would take such a risk? Surely he would’ve been advised to come clean, if not then he would be suing his advisors?

[Hereward]

Banish the prick to Moscow so he can hang out with his best mate.

[ralphrj]

Blue62 said:

It begs the question why, when you have that much wealth you would take such a risk? Surely he would’ve been advised to come clean, if not then he would be suing his advisors?

Ironically it sounds like he has got into this position by listening to his advisers to create something tax efficient, then realising that he wasn't saving any money as he was spending as much on advisers as he would have paid in tax, then contacted HMRC to come to a settlement and screwed up the declaration as he did it without the help of advisers.

[h0b0]

coanda said:

CambsBill said:

pavarotti1980 said:

sugerbear said:

Fine or prison?

£652 million fine to HMRC

That's a serious wedge by any standards, you'd have thought the government would be straight in front of a camera announcing how it's going to be spent to benefit the nation.

Is it even 1 week of money on top of the government spending inferno?

It is around 1 day of the NHS. We could have "Bernie day". Break your leg and Bernie pays.

[Collectingbrass]

Blue62 said:

pavarotti1980 said:

No that is the amount from the civil settlement with HMRC. £652,634,836 to be exact as heard in Southwark Crown Court when he was sentenced

The hidden assets were £400m/$650m

It begs the question why, when you have that much wealth you would take such a risk? Surely he would’ve been advised to come clean, if not then he would be suing his advisors?

Because some people don't understand the concept of "enough" allegedly

[J4CKO]

Hereward said:

Banish the prick to Moscow so he can hang out with his best mate.

Yep, nobody has much good to say about him, he can go and keep Putins bottom sparkly clean.

In the horrible, greedy old box with Phillip Green for me.

Why does someone that rich, at that age need to be like that, he cant have much time left and his family is more than provided for, why take the risk of living out your final days in prison ?

[PurpleTurtle]

J4CKO said:

Why does someone that rich, at that age need to be like that, he cant have much time left and his family is more than provided for, why take the risk of living out your final days in prison ?

To further enrich his family once he's dead.

They asked him the questions about the Singapore trust back in 2015. It was probably set up many years before this, when he was considerably younger, and had 'tax advisors' telling him he could get away with overseas trust shenanigans. He probably thought they wouldn't be able to find out about it.

The world was a lot more opaque back then, HMRC is now more a lot more focused and a lot more connected on overseas avoidance.

[trickywoo]

I hope HMRC gets the money.

[Gareth79]

trickywoo said:

I hope HMRC gets the money.

That would pay for a LOT of Christmas parties...