In the case of fraud in the millions, former Formula 1 boss Bernie Ecclestone has rejected the allegations in court.

The indictment accuses the 91-year-old of misrepresenting foreign assets of £400 million (€471.5 million) in the tax.

He is not guilty, Ecclestone said in a hearing at London's Westminster Magistrates' Court on Monday. He also confirmed his name, date of birth and registered address.

On September 19, he must appear for the next court date, as the judge decided.

Until then, Ecclestone remains at large.

According to the indictment, Ecclestone is said to have established only one trust abroad, the beneficiaries of which are his three daughters Deborah (67), Tamara (38) and Petra (33).

However, the British finance and tax authority HMRC (Her Majesty's Revenue and Customs) is of the opinion that Ecclestone itself wanted to benefit from the undeclared assets abroad.

This is the result of complex and global investigations.

Theoretically, a sentence of up to ten years imprisonment is possible.