Former Formula One boss Bernie Ecclestone was ordered to pay $803 million to the UK's tax authority after he pleaded guilty to fraud.

<div class="block">Former Formula One boss Bernie Ecclestone was ordered to pay $803 million to the UK&#39;s tax authority after he pleaded guilty to fraud.</div>

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Former Formula One CEO Pleads Guilty to Fraud

Let's turn to overseas and a high profile fraud case in the United Kingdom that has a lot of people talking former Formula One boss Bernie Ecclestone was ordered to pay $803 million to the U K's tax authority after he pleaded guilty to fraud. His 17 month prison sentence was also suspended for two years. The 92 year old billionaire was charged by authorities after he failed to disclose a trust he held in Singapore containing about $650 million in assets. Prosecutors allege when asked about any overseas trust. He claimed there was only one trust set up for his three Children and that he was not a beneficiary of any trust outside or inside the United Kingdom. F one is not commenting on this case.