Former Formula One boss Bernie Ecclestone was given a suspended sentence of 17 months after pleading guilty to fraud in a London courtroom.

<div class="block">Former Formula One boss Bernie Ecclestone was given a suspended sentence of 17 months after pleading guilty to fraud in a London courtroom.</div>

Need2Know Headlines

Former Formula One Chief Executive Admits to Fraud

Former Formula One boss, Bernie Stone was given a suspended sentence of 17 months today. After pleading guilty to fraud in a London courtroom. After previously pleading not guilty, Les Stone was ordered to pay £625 million to the U K's tax authority and 74,000 for prosecution costs. The former Formula One chief executive was charged by British authorities after the 92 year old failed to disclose a trust in Singapore with over $500 million. 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.