The first hearing in the case against the 91-year-old Briton was held in London on Monday. The judge ruled that Ecclestone can remain free on bail until September 19, when the next preparatory hearing is.
Ecclestone has been charged with failing to declare around £400 million worth of overseas assets to the British tax authorities. The prosecution says it has a thick file full of evidence that justifies an indictment.
The indictment also shows that Ecclestone is suspected of not having disclosed assets in Singapore worth around 650 million euros. The Briton’s wealth is estimated to be around 3 billion euros.
Ecclestone ruled Formula 1 for decades, making the major motorsport class a major commercial success. His reign came to an end in 2017, after the American company Liberty Media became the owner of Formula 1.
bribe
Ecclestone was charged with bribery in Germany in 2014. He is said to have paid a bribe to a German banker who had to supervise a stock transaction for him. At the time, the Briton bought a lawsuit and with it a possible prison sentence by paying a settlement of 75 million euros.