I am a senior reporter for the Forbes breaking news team, covering health and science from the London office. Previously I worked as a reporter for a trade publication covering big data and law and as a freelance journalist and policy analyst covering science, tech and health.
Powerball Ticket Sold In California Wins $1.76 Billion Prize—Here’s How Much The Winner Will Take Home After Taxes
Billionaire Bernie Ecclestone pleaded guilty to fraud on Thursday after British prosecutors accused him of hiding hundreds of millions of dollars worth of assets abroad, the latest in a line of scandals surrounding the controversial former Formula One boss.The 92-year-old admitted to fraud after he failed to declare a trust in Singapore that held around $650 million to British tax authorities in 2015.
Prosecutors told the court Ecclestone had declared just one trust in favor of his daughters to tax officials and misled authorities when he said he had no links to others, despite not being clear himself on the ownership structures and whether they were liable for tax. Without knowing that information, prosecutors argued Ecclestone’s answer was knowingly “untrue or misleading” and could have stopped authorities continuing any investigations into his tax affairs.Ecclestone headed Formula One for four decades and transformed it from a niche sport into a global phenomenon. During this time, and despite selling most of his stake in the 1990s, he controlled the sport and business, eventually leaving the driver’s seat in 2017, when Liberty Media bought F1 for $4.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former Formula One boss Bernie Ecclestone pleads guilty to fraudFormer Formula One boss Bernie Ecclestone has admitted fraud at a court hearing after prosecutors charged him with failing to declare millions of dollars held in a trust in Singapore to Britain’s government. The 92-year-old billionaire appeared at Southwark Crown Court in central London.
Read more »
Ex-F1 boss Bernie Ecclestone pleads guilty to tax fraud chargeThe 92-year-old appeared at Southwark Crown Court and pleaded to one count of fraud by false representation.
Read more »
Former Formula One boss Bernie Ecclestone pleads guilty to fraudFormer Formula One boss Bernie Ecclestone has admitted fraud at a court hearing after prosecutors charged him with failing to declare millions of dollars held in a trust in Singapore to Britain’s government
Read more »
Bernie Sanders criticizes Israel’s offensive in Gaza, calls it ‘serious violation of international law’Sen. Bernie Sanders asked Israeli forces to show restraint amid its offensive against Hamas in the Gaza Strip and criticized Israel for cutting aid to the area.
Read more »
Billionaire Bill Ackman Calls on Harvard to Release Names of Students Supporting Terrorism Against IsraelSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »