Tuesday 4 October 2022 09:27 AM Ex-1 boss Bernie Ecclestone, 91, arrives in court accused of failing to declare ... trends now Ex-Formula One boss Bernie Ecclestone, 91, arrives in court accused of failing to declare a Singapore trust fund worth more than £400milllion Ecclestone faces fraud charge by false representation between 2013 and 2016 HMRC probed the business magnate and asked him to declare any foreign assets He allegedly claimed he had 'established only a single trust' for his daughters But it is alleged that he failed to declare another £400million trust in Singapore By Dan Sales For Mailonline Published: 09:13 BST, 4 October 2022 | Updated: 09:22 BST, 4 October 2022 Former Formula One boss Bernie Ecclestone has arrived at a crown court in London accused of failing to declare a Singapore trust worth more than £400million to the government. The 91-year-old is at Southwark Crown Court to formally enter a plea to a single charge of fraud by false representation between July 13, 2013, and October 5, 2016. Billionaire Mr Ecclestone, who turns 92 this month, has previously indicated he would plead not guilty at a hearing at Westminster Magistrates' Court in August. That came after he was charged following an investigation by HM Revenue and Customs (HMRC) into his finances. He is alleged to have failed to declare a trust in Singapore with a bank account containing around 650 million US dollars as part of the probe, which would have allowed the business magnate to draw a line under any previous tax irregularities. According to the charge, Ecclestone allegedly claimed that he had 'established only a single trust, that being one in favour of your daughters'. Bernie Ecclestone, 91, as he arrived at Southwark Crown Court this morning ahead of hearing Former F1 boss Ecclestone faces fraud charge by false representation between 2013 and 2016 He is also alleged to have said 'other than the trust established for your daughters you were not the settlor nor beneficiary of any trust in or outside the UK'. Ecclestone, who has three grown-up daughters - Deborah, 67, Tamara, 38, and Petra, 33 - and a young son, Ace, allegedly made the representations 'intending to make a gain, namely not stated, for yourself'. The charge was authorised by the Crown Prosecution Service (CPS) in July following an investigation by HMRC, which said the probe had been 'complex and worldwide'. Chief Crown Prosecutor Andrew Penhale said at the time: 'The CPS has reviewed a file of evidence from HMRC and has authorised a charge against Bernard Ecclestone of fraud by false representation in respect of his failure to declare to HMRC the existence of assets held overseas believed to be worth in excess of £400 million.' Former Chief Executive of the Formula One Group Bernie Ecclestone looks on outside Southwark Crown Court Ecclestone is due to appear in court Southwark Crown Court accused of failing to declare a Singapore trust worth more than £400 million to the government Ecclestone, who lived in Knightsbridge, central London, is on unconditional bail. He splits his time between his coffee farm on the outskirts of Sao Paulo, Brazil, a mansion in Gstaad, Switzerland, and his villa in Ibiza, where he was last seen earlier in the summer during a disastrous media round where he praised Vladimir Putin. He later apologised for describing Putin as a 'first class person' and that he would 'take a bullet for him'. He missed the Austrian grand prix last month. Simon York, Director, Fraud Investigation Service (FIS), HMRC, said in a statement sahred in July: 'We can confirm that a fraud by false representation charge has been authorised against Bernard Ecclestone. Petra, Mr Ecclestone and Tamara at a fundraising event in London at the Corinthia Hotel, 2017 Model Tamara Ecclestone with Bernie Ecclestone at the time at F1 World Championship 2013 'This follows a complex and worldwide criminal investigation by HMRC's Fraud Investigation Service. 'The criminal charge relates to projected tax liabilities arising from more than £400m of offshore assets which were concealed from HMRC. 'HMRC is on the side of honest taxpayers and we will take tough action wherever we suspect tax fraud. Our message is clear – no one is beyond our reach. 'We remind people to refrain from commentary or sharing of information that could prejudice proceedings in any way. 'This is now a matter for the courts and we will not be commenting further.' Share or comment on this article: All rights reserved for this news site (dailymail) and under his responsibility