Bloomberg News

F1’s Ecclestone Faces U.K. Tax Evasion Investigation, Focus Says

June 23, 2012

Formula One Chief Executive Officer Bernie Ecclestone is being investigated by U.K. tax authorities on suspicion of tax evasion, Germany’s Focus magazine reported, without saying where it got the information.

U.K. authorities have asked Germany’s Finance Ministry for help in the investigation, the magazine said. The backdrop to the investigation is the bribery case involving a $44 million payment to former Bayerische Landesbank Chief Risk Officer Gerhard Gribkowsky, including the source of the bribery payment, Focus said.

Paul Mathews, a spokesman for the London-based U.K. tax office, declined to comment on the Focus report when contacted by Bloomberg News today, citing the statutory confidentiality of individual taxpayers.

Ecclestone could not be reached for comment today.

To contact the reporter on this story: Naomi Kresge in Berlin at nkresge@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net


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