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Ecclestone to pay $800m after pleading guilty to tax fraud
Former Formula 1 CEO Bernie Ecclestone has been ordered to pay $800 million after pleading guilty to tax fraud in court in the United Kingdom. Ecclestone had previously entered a not guilty plea to the charge relating to a trust held in Singapore, having not disclosed it to the government back in 2015. Appearing at Southwark Crown Court on Thursday, he accepted he had committed fraud by false representation, just over a month before he had been due to stand trial in the case.
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