Former Method One boss Bernie Ecclestone on Monday denied a fraud cost over his alleged failure to declare hundreds of thousands of kilos (dollars) in abroad property.
Ecclestone, 91, entered a not responsible plea as he appeared at Westminster Magistrates' Courtroom in London for a short listening to.
Prosecutors issued a cost of fraud by false illustration between July 2013 and October 2016 after British tax officers carried out a worldwide investigation into Ecclestone's funds.
Prosecutor Robert Simpson informed the court docket that Ecclestone didn't declare a belief in Singapore with a checking account containing about $650 million when he was requested about any trusts overseas that he was concerned in.
The enterprise magnate, wearing a three-piece go well with, was escorted into the court docket constructing's exit by safety guards and his authorized crew. He was granted unconditional bail forward of his subsequent look at Southwark Crown Courtroom on Sept. 19.
Ecclestone headed Method One racing and managed the game for for 4 a long time from the Seventies to 2017, when he stepped down as chief government and Liberty Media took over the collection.
He was arrested in Brazil in Could for carrying a gun in his baggage whereas boarding a airplane.