EX-F1 boss Bernie Ecclestone has denied fraud after he was accused of failing to declare £400million in overseas assets.
The 92-year-old billionaire is facing a single charge of fraud by false representation between July 13, 2013 and October 5, 2016.
Ecclestone allegedly failed to tell the UK Government about the trust he had in Singapore where the money was.
A "complex and worldwide" probe into his finances by HM Revenue and Customs (HMRC) suspected Ecclestone committed fraud to draw a line under any previous tax irregularities.
It's alleged the business magnate "intend[ed] to make a gain" or "make a representation to officers of HMRC which was untrue or misleading".
Spectacular New Year fireworks light up London sky as huge crowds celebrate across UK for first time in three years
It comes after he's been accused of disclosing "only a single trust" - one in favour of his daughters - to tax authorities.
He also said he was not the beneficiary of any other trust in or outside the UK.
At London's Southwark Crown Court today, wearing a dark suit and dark glasses, he spoke only to confirm his name and plead not guilty.
Ecclestone's wife, Fabiana Flosi, was there to support him.
The charge against him was authorised by the Crown Prosecution Service in July last year.
Chief crown prosecutor Andrew Penhale said at the time: "The CPS has reviewed a file of evidence from HMRC and has authorised a charge against Bernard Ecclestone of fraud by false representation in respect of his failure to declare to HMRC the existence of assets held overseas believed to be worth in excess of £400 million."
The tycoon, who has three grown-up daughters - Deborah, 68, Tamara, 38, and Petra, 34 - and a young son, Ace, was F1 chief for four decades from the 1970s.
He was removed from the position in January 2017.
Ecclestone now faces a trial on November 16.