Athletistic / Formula 1 Former F1 boss Bernie Ecclestone has been charged with fraud for concealing foreign assets, reports Championat.com citing The Telegraph.

According to the source, Ecclestone provided UK tax authorities with false information about its overseas assets.

The Fraud Investigation Service has confirmed charges against the former Formula 1 boss of concealing foreign assets. It is assumed that Ecclestone transferred assets to offshore accounts.

The case will be taken to court in the near future.

Bernie Ecclestone stepped down as F1 CEO in January 2017. He held the position for 40 years.