Ecclestones in trouble then....

[eliotrw]

http://www.bbc.co.uk/news/world-europe-23344423

Sounds a bit dodgy to me...

[Durzel]

He'll get off. Either that or there'll be endless appeals and other legal maneuvering that ensures he never actually sees the inside of a prison cell.

Whole thing smacks of posturing and people trying to make names for themselves really. He probably did pay bribes, but I'd be surprised if he was so cavalier or explicit about it.

Does anyone actually believe a guy with as much money as he has will do time? The rich and famous live on a different plane to us proles.

st, even Tulisa is swanning around on holiday despite being caught arranging deals of class A.

Edited by Durzel on Wednesday 17th July 12:17

[Eric Mc]

Bernie behind bars?

Not a chance.

[Vocal Minority]

Bernie Madoff is doing time. He had a bit of cash kicking around

[Derek Smith]

Regardless of whether he can play the system, and if someone as rich as he is can't then no one can, this is not going to help the sale of the commercial rights.

Not good news for F1.

[Eric Mc]

Bernie admits he paid the money.

However, he claims he was being blackmailed and had to make the payment.

And what was the blackmailing issue? According to Bernie, the German businessman was threatening to shop Bernie to HMRC.

Now, call me stupid, but why would Bernie give in to such a threat if his UK tax affairs were all in order?

Or is he admitting that he wanted to hide certain elements of his affairs from HMRC?

[omgus]

Eric Mc said:

Bernie behind bars?

Not a chance.

Welcome to the layer cake son.

[Richard-G]

I can't wait to see how much money Bernie makes out of this!

he'll find a way.

[Upatdawn]

In his testimony, Ecclestone said he had been worried that if he had not paid the money, Gribkowsky would have alerted the UK tax authorities to "things" that might have led to a tax inquiry.



well, we have all been there havent we


havent we?


i havent

[Durzel]

Vocal Minority said:

Bernie Madoff is doing time. He had a bit of cash kicking around

True, but he was taken down by the SEC. You don't mess with the tax man, just ask Al Capone or Wesley Snipes. For some reason tax prosecutions seem to pay no mind to wealth or status.

omgus said:

Welcome to the layer cake son.

Eruditely put.

[williamp]

...as this is germany, with german laywers and of course the germn grand prix, bernie will now blame silverstone (somehow) and remind recommends that F1 looks elsewhere. Im surprised hes been quiet quiet this year, in fact...

[Vocal Minority]

Eric Mc said:

Or is he admitting that he wanted to hide certain elements of his affairs from HMRC?

This is the one thing that has leapt right out at me. The tacit admission is that there are some irregularities...

So Durzel...given what you say about the taxman, he may end up in porridge after all!

• He is also 82, and complex investigations like this can take years.....

[Jasandjules]

Vocal Minority said:

• He is also 82, and complex investigations like this can take years.....

Along with 20 years of appeals should it be necessary to do so.

[Eric Mc]

I'm sure he's receiving advice from his good friend Silvio as we speak.

[ViperDave]

He will be like Savile, plenty or rumours and theories all the time he is around but nothing sticking, and it will all come out like a great train wreck when he snuffs it.

[Great Dane]

Just wait for Mercedes and what they will do....

[pedromorgan]

question from a thickie.....

Is "indicted" the same as being formally charged?

Peter

[Zod]

Mr Ecclestone said it was "inevitable" that the indictment had been served. "If someone wants to sue you, they can do it and you have to defend it," he said.

No, Bernie, you are not being sued; you are being prosecuted.

[MarkwG]

Eric Mc said:

Now, call me stupid, but why would Bernie give in to such a threat if his UK tax affairs were all in order?

Or is he admitting that he wanted to hide certain elements of his affairs from HMRC?

I'm not defending Mr E, (or calling you stupid!) but I think what he's inferring is the cost of any enquiry would be exhorbitant, both in accountancy costs & personal time, rather than there's anything in there to find...hence quicker, easier & cheaper to pay the other guy, than risk going through the process; I believe in the States the threat of an "audit" is similarly disliked, & I'd rather HMRC left me alone, not that I've anything to hide either.

[t1grm]

MarkwG said:

Eric Mc said:

Now, call me stupid, but why would Bernie give in to such a threat if his UK tax affairs were all in order?

Or is he admitting that he wanted to hide certain elements of his affairs from HMRC?

I'm not defending Mr E, (or calling you stupid!) but I think what he's inferring is the cost of any enquiry would be exhorbitant, both in accountancy costs & personal time, rather than there's anything in there to find...hence quicker, easier & cheaper to pay the other guy, than risk going through the process; I believe in the States the threat of an "audit" is similarly disliked, & I'd rather HMRC left me alone, not that I've anything to hide either.

"The only alternative was that the British tax authorities followed a case that would have been very expensive for me," said Mr Ecclestone at the time.

"The tax risk would have exceeded £2bn. I paid him to keep calm and not to do silly things."

He's referring to the tax liability there. Not the cost of the investigation. But as other have said. He won't do a day behind bars. Money talks.