Boris Becker was Found Guilty of Four Charges under the Insolvency Act

boris becker court insolvency act
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The six-time Grand Slam singles champion and sports commentator, Boris Becker, has been found guilty of four charges under the Insolvency Act 1986. He has been acquitted of 20 further charges at Southwark Court. Becker was granted bail and is pending sentencing that will occur later this month on April 29th. 

Why was Becker Found Guilty?

Becker reportedly had been hiding valuable assets from the court that could have been used to pay off his creditors. On the 8th of April Boris Becker was found guilty of these four charges:

  • Removing a property totalling just shy of €427,000 from his bankruptcy estate (count 4)
  • Failure to disclose the ownership of a property in Leiman, Germany (count 10)
  • Attempting to conceal a loan of €825,000 from the Bank of Alpinum of Lichtenstein (count 13)
  • Holding 75,000 shares in Breaking Data Corp (count 14)

How did Boris Becker Become Bankrupt? 

Despite reportedly earning around £38 million during the course of his tennis career in both prize money and sponsorship deals Boris Becker found himself financially challenged after he retired from tennis. Becker’s divorce from his ex-wife Barabara Feltus in 2001, high maintenance payments for their kids and owing Swiss Authorities 5 million francs led to his current predicament. The money owed from tax fraud in Germany meant he was convicted. However, he was not given a prison sentence.

Notable money loss

These are a few cases of his most infamous accounts of money loss with these alleged figures:

Additionally, a former business partner of Becker’s claimed that he was owed more than £30 million. However, Hans-Dieter Cleven quickly had his case thrown out by the Higher Court of the Canton of Zug/Switzerland.       

Finally, back in June 2017, Becker was declared bankrupt after failing to pay back a loan worth over £3 million on his property in Mallorca. 

His creditors at bank Arbuthnot Latham then sought out Becker to make repayments by handing over valuable assets to pay off the debt. He has allegedly done everything within his power to hold onto assets like his 1985 Wimbledon trophy. The bank decided to initiate its legal proceedings back in July 2016.

Additionally, Boris Becker’s failure to disclose the assets he possessed meant his bankruptcy has been discharged. This discharge means he faces a 12-year Bankruptcy Restriction Undertaking, which he will be released from around October 2031.

Sentence Length

The current charge for his crime carries a maximum of 7 years in prison. Likely the prosecutors will seek the maximum sentence due to his history of tax fraud. This case acts as a means to warn other celebrities that they cannot hide away their debt no matter how hard they try. 

Could Becker have Avoided Bankruptcy? 

Becker’s inability to follow a more modest life has placed him in this position. Certainly, his impulsive decisions have led to the declaration of his bankruptcy. However, with a team of qualified legal experts and financial advisors behind him, it should have been avoided. 

If you are worried about debt, bankruptcy or possible personal insolvency, contact Asset Solutions today on 0800 689 3861. Our experienced team members provide unrivalled assistance to individuals throughout the entire insolvency process and help to stop bankruptcy. We understand that anyone facing problem debt is likely to feel overwhelmed and intimidated. That’s why we’re here to support you throughout the process and help you achieve the best results possible for your situation. Contact us today for more information.