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Ex-Formula One chief Bernie Ecclestone arrives at Southwark Crown Court in central London, on October 12, 2023. Image Credit: AFP

Ex-Formula One boss Bernie Ecclestone has agreed to pay more than 652 million pounds ($800 million), prosecutors said on October 12, after he pleaded guilty to tax fraud.

The 92-year-old appeared at London’s Southwark Crown Court and pleaded to one count of fraud by false representation, just over a month before he was due to stand trial.

Ecclestone, accompanied by his wife Fabiana, spoke only to confirm his name and to enter his plea. “I plead guilty,” Ecclestone said.