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Formula 1 Discussion
October 12, 2023, 01:18 PM
DanHFormula 1 Discussion
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.
October 12, 2023, 02:25 PM
GeorgeairWell with a estimated worth of $3B for him, that's only equivalent to me of OHSHITTHATSSTILLALOT!
You only have integrity once. - imprezaguy02
October 12, 2023, 06:02 PM
Dwill104Skated 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.
October 13, 2023, 04:02 PM
GT-40DOCI wonder if Bernie is still married to that good looking young chick??
October 14, 2023, 11:34 AM
220-9erquote:
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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October 20, 2023, 10:24 PM
220-9erThings 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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October 22, 2023, 04:23 PM
DanHThat 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.
October 22, 2023, 05:59 PM
220-9erLate 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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October 22, 2023, 07:45 PM
bcereussYep. Disqualified.
October 22, 2023, 10:18 PM
TMatsWell, 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
October 22, 2023, 10:37 PM
RipleyNorris 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. October 23, 2023, 05:21 AM
DanHMcLaren 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?
October 23, 2023, 02:08 PM
redstoneI 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 October 23, 2023, 02:10 PM
DanHAnd because of the DQs, Logan Sargeant now has 1 more point than Daniel Ricciardo!!!!
October 23, 2023, 02:21 PM
P250UA5quote:
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. October 24, 2023, 09:51 AM
redstoneThat 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 October 24, 2023, 11:22 AM
P250UA5quote:
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.
The Enemy's gate is down. October 28, 2023, 12:49 PM
DanHDoes 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.
October 28, 2023, 01:03 PM
P250UA5On the calendar through 2025.
Also FP2, Bottas 4th, in a car that really has no business that high up the order
The Enemy's gate is down. October 28, 2023, 05:00 PM
P250UA5Both Alfas in Q3! Ricciardo, too.
The Enemy's gate is down.