FORMER F1 supremo Bernie Ecclestone has admitted fraud but been spared jail after agreeing to pay a £652million tax bill.
The 92-year-old admitted failing to declare more than £400million held in a trust in Singapore during a tax probe. Yesterday, following an eighty-year legal battle, the billionaire pleaded guilty to one count of fraud.
He agreed a civil settlement of £652,634,836 to clear his tax debt to HMRC accrued over 18 years.
The figure is made up of a £340million penalty as well as settling wider tax affairs and interest.
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