Ex-Formula One boss Bernie Ecclestone has pleaded guilty to fraud over a failure to declare £400m held in a trust in Singapore to the government.

Ecclestone, who turns 93 later this month, was due to face trial at Southwark Crown Court in November after previously denying the charge.

The billionaire appeared at the same court today wearing a dark grey suit, supported by his third wife, Fabiana Flosi, to plead guilty to a single count of fraud on 7 July 2015.

The court has previously heard he failed to declare a trust in Singapore with a bank account containing around 650 million US dollars, worth about £400 million at the time.

Prosecutors said Ecclestone made untrue or misleading representations to HM Revenue and Customers at a July 2015
meeting, when he said he “established only a single trust” in favour of his daughters Deborah, Tamara and Petra.

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