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I swear I had
something for this
posted Hide Post
It's also a bad time to be Bernie:

https://racer.com/2023/10/12/e...guilty-to-tax-fraud/

quote:
Ecclestone to pay $800m after pleading guilty to tax fraud

Chris Medland October 12, 2023 9:21 AM ET

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.

The 92-year-old held around $650m – worth about £400m at the time – in the trust, and has now reached a settlement with HM Revenue and Customs (HMRC) in which he agreed to pay back more than $800m (£652m) after entering his guilty plea. He was also sentenced to 17 months in prison, suspended for two years.

Ecclestone was charged after an investigation into his finances by HMRC, in which he had stated he had established a single trust for his daughters and when asked if he held any links to any further trusts in or outside the UK had replied: “No.”

Sky News quoted Prosecutor Richard Wright KC as saying in court: “That answer was untrue or misleading. Mr Ecclestone knew his answer may have been untrue or misleading.

“As of 7 July 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 recognizes 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.”

Ecclestone was still chief executive of the Formula One Group at the time of the incident, a position he held until January 2017 following Liberty Media’s takeover.
 
Posts: 4534 | Location: Kansas City, MO | Registered: May 28, 2004Reply With QuoteReport This Post
thin skin can't win
Picture of Georgeair
posted Hide Post
Well with a estimated worth of $3B for him, that's only equivalent to me of OHSHITTHATSSTILLALOT!



You only have integrity once. - imprezaguy02

 
Posts: 12852 | Location: Madison, MS | Registered: December 10, 2007Reply With QuoteReport This Post
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Skated out of doing 17 months in prison and still is worth over $2 billion. I’d say it’s a great time to be Bernie.
 
Posts: 3447 | Location: South FL | Registered: February 09, 2007Reply With QuoteReport This Post
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I wonder if Bernie is still married to that good looking young chick??
 
Posts: 6748 | Location: Az | Registered: May 27, 2005Reply With QuoteReport This Post
Just because you can,
doesn't mean you should
posted Hide Post
quote:
Originally posted by GT-40DOC:
I wonder if Bernie is still married to that good looking young chick??


He's not doing too bad for an old used car salesman.
An article from several yeas ago, for more recent fans that may not know his history.

https://www.espn.com/f1/story/...-ecclestone-built-f1


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Posts: 9929 | Location: NE GA | Registered: August 22, 2002Reply With QuoteReport This Post
Just because you can,
doesn't mean you should
posted Hide Post
Things look pretty close so far in Texas.
Should be more clear after tomorrow with the sprint race and a second qualifying.


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Posts: 9929 | Location: NE GA | Registered: August 22, 2002Reply With QuoteReport This Post
I swear I had
something for this
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That was depressing. Norris overperformed and got screwed over by McLaren strategy. The only positive for McLaren today was they finally overtook Aston Martin for 4th in points.

And if there was ever a reason to hate Mercedes, we got to see Bitch Prince Harry watching the race from their garage.
 
Posts: 4534 | Location: Kansas City, MO | Registered: May 28, 2004Reply With QuoteReport This Post
Just because you can,
doesn't mean you should
posted Hide Post
Late news, both Hamilton and Leclerc are being reported as not in compliance at the tech shed.

There is a minimum floor thickness, the Jabroc floor (a composite wood wear component) has to be a certain thickness after the race. This is a rule so the cars can't be run too low.
I can't remember this being an issue before but it's looking like they may both be DQ'ed.

Otherwise, an interesting race and I agree, I didn't understand why McLaren didn't leave Lando out for more laps, as long as he didn't drop off a lot, and them fit the medium tires. Max had no choice but to run the hard's on his last stop to comply with the rules.


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Posts: 9929 | Location: NE GA | Registered: August 22, 2002Reply With QuoteReport This Post
SIGforum Official
Eye Doc
Picture of bcereuss
posted Hide Post
Yep. Disqualified.
 
Posts: 3046 | Location: (Occupied) Northern Minnesota | Registered: June 24, 2003Reply With QuoteReport This Post
Legalize the Constitution
Picture of TMats
posted Hide Post
Well, it was an entertaining race. Circuit of the Americas is a good track for racing. I don’t really understand why Pérez has fallen out of contention the last several races, after running with the leaders earlier in the season. It appears Alonso is also no longer able to run with the big dogs. Good for Norris finishing 3rd.


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despite them
 
Posts: 13704 | Location: Wyoming | Registered: January 10, 2008Reply With QuoteReport This Post
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Picture of Ripley
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Norris now second, Sainz third. Sir Lew takes a hit in running down Checo for second in the WDC.




Set the controls for the heart of the Sun.
 
Posts: 8623 | Location: Flown-over country | Registered: December 25, 2008Reply With QuoteReport This Post
I swear I had
something for this
posted Hide Post
McLaren is now about 80 points away from tying Ferrari with 4 races to go and however many sprints left. Think they can overhaul Ferrari at this pace?
 
Posts: 4534 | Location: Kansas City, MO | Registered: May 28, 2004Reply With QuoteReport This Post
Why don’t you fix your little
problem and light this candle
Picture of redstone
posted Hide Post
I liked how no one ran away with it. Even watching Lewis reel in Verstappen was pretty fun. I also like the uphill entrance into turn one.

Man, that sucks they failed post race inspection.



This business will get out of control. It will get out of control and we'll be lucky to live through it. -Rear Admiral (Lower Half) Joshua Painter Played by Senator Fred Thompson
 
Posts: 3682 | Location: Central Virginia | Registered: November 06, 2006Reply With QuoteReport This Post
I swear I had
something for this
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And because of the DQs, Logan Sargeant now has 1 more point than Daniel Ricciardo!!!! Roll Eyes
 
Posts: 4534 | Location: Kansas City, MO | Registered: May 28, 2004Reply With QuoteReport This Post
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Picture of P250UA5
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quote:
Originally posted by redstone:
I also like the uphill entrance into turn one.


I've attended COTA twice for the USGP.
The climb to T1 is much steeper than it looks on TV & gets steeper about halfway up.

Top of the hill looking back to the start/finish straight, from 2017. Hopefully the image isn't huge...




The Enemy's gate is down.
 
Posts: 16201 | Location: Spring, TX | Registered: July 11, 2011Reply With QuoteReport This Post
Why don’t you fix your little
problem and light this candle
Picture of redstone
posted Hide Post
That looks amazing. And this track produced one of the best races of the year.

Also, it looked like there were multiple grandstands that had great views as well.



This business will get out of control. It will get out of control and we'll be lucky to live through it. -Rear Admiral (Lower Half) Joshua Painter Played by Senator Fred Thompson
 
Posts: 3682 | Location: Central Virginia | Registered: November 06, 2006Reply With QuoteReport This Post
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Picture of P250UA5
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quote:
Originally posted by redstone:
That looks amazing. And this track produced one of the best races of the year.

Also, it looked like there were multiple grandstands that had great views as well.


They added the infield grandstand just after the esses around T7-8, this year.

Watching from my couch, I'd love to attend again, but seeing the crowds in the GA areas made me glad to be watching from home.

The 2 years we went, from the huge parking area, nearest the back straight, to the main entrance was about a mile. Then another mile to our seats at T9 [2017] and a bit less to T3 [2018]. So, over 3 days, just to & from the truck we walked roughly 12 miles. Then add in the walk from our seats back to the fanzone/merch area. I think we walked about 25 miles over the whole weekend, including off-track stuff.

Then there was the track invasion sprint to the podium to beat the crowd, post-race. Cool




The Enemy's gate is down.
 
Posts: 16201 | Location: Spring, TX | Registered: July 11, 2011Reply With QuoteReport This Post
I swear I had
something for this
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Does anyone know how many more years Mexico is contracted for? On the odd chance that Perez is fired/retired, can Mexico survive on the schedule for more than 2 years without a Mexican driver? While not F1, every time I've seen NASCAR or CART/IndyCar branch out into Mexico, the race withers and dies once the Mexican hero driver loses his ride.
 
Posts: 4534 | Location: Kansas City, MO | Registered: May 28, 2004Reply With QuoteReport This Post
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Picture of P250UA5
posted Hide Post
On the calendar through 2025.
Also FP2, Bottas 4th, in a car that really has no business that high up the order Cool




The Enemy's gate is down.
 
Posts: 16201 | Location: Spring, TX | Registered: July 11, 2011Reply With QuoteReport This Post
Member
Picture of P250UA5
posted Hide Post
Both Alfas in Q3! Ricciardo, too.




The Enemy's gate is down.
 
Posts: 16201 | Location: Spring, TX | Registered: July 11, 2011Reply With QuoteReport This Post
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