Former F1 Boss to Pay $800 Million for Tax Evasion

British prosecutors indicated today, Thursday, that former Formula 1 world championship president Bernie Ecclestone has agreed to pay over £652 million ($800 million) to UK tax authorities after admitting to tax evasion. Ecclestone, 92, appeared in court in the British capital to acknowledge his offense by providing inaccurate information to the tax authorities in his country, more than a month before his scheduled trial. During the session, Ecclestone, who was accompanied by his wife Fabiana, only spoke to confirm his identity and submit his statement regarding his admission of the offense.