Former F1 Boss Bernie Ecclestone Gets Suspended Sentence in Tax Fraud Plea

Former Formula 1 chief executive Bernie Ecclestone has been handed a 17-month sentence in a plea deal involving a tax fraud case dating back to 2015.

Ecclestone, who turns 93 on October 28, is not expected to face any jail time, as the sentenced is suspended for two years.

According to Reuters, Ecclestone gave misleading answers to investigators in 2015 regarding approximately $492 million in holdings in a Singapore trust.

Reuters reports that Ecclestone's lawyers used testimony from a cardiologist in an attempt to stop the prosecution in June, claiming that even putting Ecclestone on trial posed a risk to his life.

Prosecutor Richard Wright said the defendant had knowingly given an "untrue or misleading" answers during questioning by HMRC when he told them he had no further trusts outside the UK.

"He now accepts that some tax is due in relation to these matters," Wright said.

In a separate civil case settlement, Ecclestone will also pay Britain's tax office HM Revenues and Customs 652.6 million pounds (approx. $800 million) to cover tax penalties and interest for holdings over the course of the past 18 years.

Ecclestone was chief executive of Formula 1 from 1978 until January of 2017.