Ex-Formula One boss Bernie Ecclestone spared jail after admitting fraud

Bernie Ecclestone was given a suspended prison sentence (Lucy North/PA)

Ex-Formula One boss Bernie Ecclestone has been spared jail after admitting fraudulently failing to declare more than £400million held in a trust in Singapore to the Government.

The court heard the 92-year-old has agreed a civil settlement of £652,634,836 in respect of sums due to HMRC over the course of 18 years.