Boris Becker has been jailed for two and a half years after hiding assets and debts worth more than £2.5 million after being declared bankrupt.
The former German tennis player was on trial for hiding asses worth £2.5 million while declaring bankruptcy. Becker tried to conceal his wealth by transferring money to his family and associates, hiding details on several of his properties in Germany, and keeping his tennis trophies while he filed for bankruptcy in June 2017.
The six-time Grand Slam champion was convicted by a jury of four charges under the Insolvency Act and was jailed on Friday by the Recorder of Westminster, Judge Deborah Taylor.
Prosecutor Rebecca Chalkley said Becker deliberately concealed his assets and debts when he knew they should have been offered up to the bankruptcy proceedings.
"He deliberately and dishonestly removed money and transferred it to various third parties, with the intention of removing money from the estate and as a consequence away from recovery and their creditors."
Following his 2017 bankruptcy, the 54-year-old German was discovered to have transferred hundreds of thousands of pounds from his business account to other accounts to conceal his true wealth.
Becker's net worth was over $38 million at the height of his tennis career in the 1980s and 90s, but this number declined following poor financial management and a continuous life of luxury. The former German great won three Wimbledons, two Australian Opens, and one US Open title in his career.
As a result of his asset protection and failure to be honest about his bankruptcy details, Becker will serve half of his two-and-a-half-year sentence inside a prison. When summing up the case, Judge Taylor stated that Becker's dishonesty led to a lack of 'humility' during the case.
"I accept the humiliation you have felt but you’ve shown no humility."
Subscribed successfully
0 Comments