Bernie pleads guilty in fraud case

[Dare]

Looks like the US isn't the only country with
a two tier legal system. Politicians and the rich
are slapped on the wrist for crimes that ordinary
citizens receive prison sentences


https://www.planetf1.com/news/former-f1-boss-bernie-ecclestone-pleads-guilty-in-400m-fraud-case

[cosworth151]

The Golden Rule of government - Those who have the gold make the rules.

[lkjohnson1950]

 

[John S]

Well Bernie seems to have lost quite a bit of his gold to stay outta Clink!   

[Andy B]

Its estimated that BE is worth US$2.4 billion so he can afford the fine to stay out of jail.

[John S]

Its estimated that BE is worth US$2.4 billion so he can afford the fine to stay out of jail.

Not sure that is accurate Andy, most of Bernie's larger fortune was put into trusts for his wife and daughters some years back. To avoid a huge tax bill Bernie has to have a hands-off approach to these trusts. This £625m payment has surely been like a severe twist to the balls for him.

Having so many arm's length trusts probably gave Bernie the idea that his Singapore trust would on the face of it appear like all the others.

Seems he gambled on Tax officials' usual lackadaisical approach to tax investigation and lost, - or maybe someone grassed him up. 

[Andy B]

Perhaps he'll make them an offer!