Ex-F1 boss Bernie Ecclestone admits fraud after failing to declare £400million - OLD
Ex-Formula One boss Bernie Ecclestone has admitted fraud after failing to declare more than £400million held in a trust in Singapore to the Government. The 92-year-old said “I plead guilty” at Southwark Crown Court on Thursday while standing in the well of the court wearing a dark suit and grey tie. On July 7, 2015, the billionaire failed to declare a trust in Singapore with a bank account containing around 650 million US dollars, worth about £400million at the time. The charge stated Ecclestone, who has three grown-up daughters, Deborah, Tamara and Petra, and a young son, Ace, had “established only a single trust, that being one in favour of your daughters, and other than the trust established for your daughters you were not the settlor nor beneficiary of any trust in or outside the UK”. Before his guilty plea, he had been due to face trial in November on the single fraud charge. The court heard Ecclestone had said “no” when asked by HMRC officers whether he had any links to any further trusts “in or outside the UK”. Prosecutor Richard Wright KC said: “That answer was untrue or misleading. “Mr Ecclestone knew his answer may have been untrue or misleading. “As of July 7, 2015, Mr Ecclestone did not know the truth of the position, so was not able to give an answer to the question. “Mr Ecclestone was not entirely clear on how ownership of the accounts in question were structured. “He therefore did not know whether it was liable for tax, interest or penalties in relation to amounts passing through the accounts. “Mr Ecclestone recognises it was wrong to answer the questions he did because it ran the risk that HMRC would not continue to investigate his affairs. “He now accepts that some tax is due in relation to these matters.” Read More FIA to review Qatar GP as ‘dangerous’ temperatures prompt driver complaints Lewis Hamilton and George Russell vent anger on radio after collision in Qatar Lewis Hamilton crashes out after first-corner collision with George Russell In his own words: Christian Horner on world champion Max Verstappen Angry Lance Stroll shoves personal trainer and storms out of interview Max Verstappen fastest in Qatar practice as he closes in on world championship
2023-10-12 17:59
What Lewis Hamilton’s clash with George Russell tells us about state of play at Mercedes
The post-race video on Mercedes’ social media channels was exquisitely timed. It captured Lewis Hamilton walking over to George Russell in the Silver Arrows motorhome in Qatar: an apology, an embrace. “Sorry about that, it wasn’t your fault,” said the seven-time world champion. No fallout. No outrage. The message was clear: let it be known that the collision which derailed both drivers’ race on Sunday night is unequivocally brushed under the carpet. Incidents like this happens. It is, after all, racing. However, the reality is that this one has been brewing for some time. The initial rumblings on team radio tell a better story. Russell, sandwiched in-between Max Verstappen and Hamilton at turn one, bellowing: “Come on, what the hell! That is two races in a row.” Somewhat remarkably, he recovered from dead last to finish fourth. Hamilton, though later taking full responsibility, insisted he was “taken out by his team-mate.” The 38-year-old was left beached in the gravel, his race run after a matter of seconds. All in all, it marks the end of quite a tumultuous month for Mercedes in Asia. Because what has largely characterised Hamilton and Russell’s relationship since the latter joined from Williams at the start of 2022 – his long-awaited opportunity of a lifetime – is respect. Two British drivers, 13 years apart. Hamilton: one of the greatest of all time. Russell: the next big thing. Both have grown equally frustrated at Mercedes’ underperformance in the past 18 months. A period defined by a car with a misdirected philosophy. A period of anguish and pain, both literally with last year’s porpoising and mentally with constant problems and a lack of pace. A period of one win in 39 races. But despite all the issues, respect had been maintained. And, they both say now, it still is. The video – captioned “actions speak louder than words” – points to that. But the touch paper has most certainly been lit. It started in Singapore, when Russell’s eagerness to taste victory resulted in a last lap mistake and shunt into the wall. Hamilton was on his tail then and profiteered to finish on the podium. A week later, in Japan, it intensified. The pair scrapped on numerous occasions, both on track in feisty moves and off track with different strategies and approaches. Russell, upon resisting an initial team order to let Hamilton pass, was told in no uncertain terms: “This is an instruction, George.” Hamilton was also unsatisfied with his team’s tactics in Suzuka, told to stay within DRS range to Russell behind to help his team-mate defend from Carlos Sainz. In the end, the elder statesman finished fifth, two places clear of his junior. So contrary to what both may believe, Sunday’s first turn collision – when both had a sniff and a glimpse of the lead – had been in the offing for Hamilton and Russell. And while both may well want to leave the Middle East with a mantra of forgive and forget, it points to a deeper tale emerging within the team. Both signed new deals last month until the end of the 2025 season. Both are desperate for success: Hamilton for that record-breaking eighth title, a title unjustly snatched from him in Abu Dhabi in 2021, and Russell to simply be in a fight for a championship. But when two competitive animals, vying to be No 1, are left fighting for every point and position, clashes are something of an inevitability. This incident will not be the last. We saw it with Hamilton and Nico Rosberg; a partnership with blew up at various points in 2016. Further back, you only have to go to Hamilton’s rookie season when he squared up to two-time world champion Fernando Alonso across the garage. It is little wonder Hamilton says his team-mate between 2017-2021 – when he won four of his seven titles – was his favourite. Valtteri Bottas never quite had the pace to match-up to the indomitable Hamilton. But Russell does not want to fall into that same bracket. Telling The Independent a year ago of his “ultimate goal” to win a world championship, his ambitions are sky-high. So much so, in fact, that he finished above his team-mate in last season’s standings and will be ruing a few errors this year which means he currently trails Hamilton by 62 points and is languishing in eighth spot, now below Lando Norris. Behind the impeccable politeness is an intense competitiveness and Russell is not interested in playing second fiddle. It all makes for an intriguing sub-plot to play out in the remaining five races of the season as we cross over to the Americas. The state of play in the Mercedes garage is bubbling up, to a point where something may well have to give. Toto Wolff was absent in Japan and Qatar due to undergoing knee surgery, but dialled in on Sunday to calm Russell down. After the incidents in the past two races, no doubt he will be back present in Austin in two weeks’ time and, frankly, both drivers might just need their boss back in town. The respect still seems present between the two Brits – but for how much longer? Read More Lewis Hamilton apologises to George Russell after crash in Qatar: ‘It wasn’t your fault’ F1 drivers unhappy after ‘dangerous’ Qatar Grand Prix causes fainting and vomiting Lewis Hamilton and George Russell collide as Max Verstappen wins in Qatar F1 drivers unhappy after ‘dangerous’ Qatar Grand Prix causes fainting and vomiting ‘I was passing out in the car’: Lance Stroll explains how Qatar heat took its toll Lewis Hamilton and George Russell collide as Max Verstappen wins in Qatar
2023-10-09 20:17
How To Style The Same Wedding Guest Look For Different Dress Codes
If your itinerary of weddings to attend shows no sign of slowing down this summer, you might feel like you’re going through wedding guest looks faster than swimsuits. With every occasion a direct reflection of the couple and their tastes, no two affairs — or dress codes — are the same. But while venues may range from an indoor ballroom to a beach wedding within a single month, and clothing suggestions from black-tie to tropical cocktail to match, there’s no need to shop for a new look every time an invitation lands in the mail. Instead, invest in a few good dresses that you can see staying in your closet for a while, and give them a second (and 10th and 20th) life by rotating the accessories.
2023-07-11 23:17
Get a VPN that helps protect your IoT devices for life for $199
TL;DR: As of October 1, get the Deeper Connect Mini decentralized VPN for only $198.99
2023-10-01 17:21
People are spending more on groceries. But they're buying less
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Shark® Detect Pro™ Technology Outsmarts Dirty Carpets and Floors
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2023-09-07 20:59
China tightens scrutiny of Japanese food, citing safety reasons
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2023-07-07 14:25
The Best Budget Laptops for 2023
Apple won't sell you a new MacBook for less than $999, but the days when
2023-06-22 06:15
En route to the moon, Russia beams back first mission images
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2023-08-16 01:28
A crispy roast potatoes recipe could be the key to life on Earth
A chemical reaction that gives food flavour could have helped evolution, one study suggests. According to New Scientist, the Maillard reaction is when the temperature between sugars and amino acids rises above approximately 140°C. It often occurs in food such as toasted bread, meats and roasted vegetables. Caroline Peacock at the University of Leeds wanted to explore whether it could happen at lower temperatures. To do this, scientists added iron or manganese minerals to a solution made up of sugar glucose and the amino acid glycine. When the substance was incubated at 10°C, the process was sped up by around 100 times. The temperature is said to be similar to the seabed at the edges of continents. Peacock and the team discovered that the Maillard reaction also occurs on the ocean floor, where iron and manganese minerals are often found. If this is the case, it could cause the carbon in sugars and amino acids to be stored in "large, complex polymers that microbes find harder to ingest," Peacock said, as per the publication. Sign up for our free Indy100 weekly newsletter "If you can get your carbon through the 1-metre danger zone [at the top of the sea floor], where carbon generally is attacked and degraded and turned back into carbon dioxide by microbes, that will lock it away from the atmosphere," she explained. The team estimated that the minerals could lock away roughly 4 million tonnes of carbon every year. If this process didn't exist, the atmosphere could have warmed by a further 5°C over the past 400 million years, the study suggested. "This process has such a profound impact on atmospheric oxygen," she says. "Because complex life forms require higher levels of oxygen, as they’re more energetically demanding, we think it’s reasonable to surmise this process had a hand in creating conditions required for complex life." Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.
2023-08-05 00:20
US to escalate claim that Mexico corn policy violates trade pact -Bloomberg News
The United States is preparing to escalate its complaint that Mexico's ban on genetically modified corn violates the
2023-08-17 14:59
The Best Apple Watch for 2023
It's no secret that the Apple Watch is the best smartwatch for iPhone users. The
2023-10-10 05:47
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