Bernie Ecclestone became a widely discussed figure in the Formula 1 community due to serious allegations. After his dismissal as Chief Executive in 2017, he remained largely absent from the sport. Despite his significant reputation for transforming the sport, his return to the spotlight was less desirable than he might have anticipated.
The situations pertaining to Bernie’s increased popularity nowadays is equally shocking to the general public, once one of the prominent figures in Formula 1 and famously known as ‘F1 Supremo’ is undergoing trials for frauds which where were previously denied by him.
Who is ex-Formula 1 boss Bernie Ecclestone?
Boss would definitely be an understatement when it comes to the F1 Supremo, he was a lone ruler of the entire kingdom made by Formula 1 and he surely reaped the benefits and excised his power in this rule accordingly.
Once a part of the Formula 1 Constructors Association during his 15 years as the team owner of Brabham, Bernie Ecclestone ascended through the ranks and eventually became the Chief Executive of the Formula 1 Group. Under his leadership, he assumed control of the entire race management process, from selecting venues to structuring Grand Prix weekends. Ecclestone amassed immense wealth, reaching the pinnacle of the F1 hierarchy and becoming one of the wealthiest individuals in Britain.
Bernie Ecclestone is going to pay £802,000,000 for tax fraud
Bernie Ecclestone has been accused of dishonest representation of his assets owing to which he was subjected to trial in court. He earlier pleaded to the court that he wasn’t guilty and he knew nothing about the tax fraud he was being blamed for. He was said to have $650 million undeclared in Singapore in a bank account in his name.
Recently in a surprising change of circumstances Bernie Ecclestone indeed pleaded guilty for his tax fraud and he will be convicted for the same. The billionaire will have to pay the price for the frauds he committed and he is suspended. He will also have to pay back a total sum of £802,000,000 which includes interest on the original money as a part of his punishment.
Formula 1 is flashy world with dark shadows and Bernie was man used to walk in these shadows more than often. It seems that his past has come to bite him in ways he hadn’t thought of it would and he is going to ‘pay’ a huge price for that.
What are your thought about Bernie’s story do let us know in comments.
