Boris Becker was sentenced to 2 1/2 years in jail on Friday after being found guilty of four charges related to his 2017 bankruptcy. The former tennis star, 54, received the prison sentence at the Southwark Crown Court.
What happened?
Boris Becker was made bankrupt on 21 June 2017 in the High Court following a petition from Arbuthnot Latham & Co, a private bank. He was legally obliged to disclose all of his assets so that his trustee could distribute available funds to his creditors.
The former tennis player, however, failed to disclose, concealed and removed significant assets from the Official Receiver and his Trustee in Bankruptcy. Boris Becker declared bankruptcy after he was unable to pay a loan worth more than 3 million pounds ($3.77 million) for his estate in Spain.
Why it matters for Boris Becker
The jury found Boris Becker guilty of transferring a large sum of money from his business account to several other accounts after he filed for bankruptcy. He was also found guilty of failing to disclose property that he owned in Germany.
Boris Becker was convicted of hiding more than 825,000 pounds ($872,256) in debt after filing for bankruptcy, as well as shares he owned in tech firm Breaking Data Corp. Prior to his sentencing, Boris Becker testified that his "expensive lifestyle commitments" ultimately led to his bankruptcy.
What comes next?
During the sentencing hearing on Friday, Judge Deborah Taylor said, "I take into account what has been described as your fall from grace. You have lost your career and reputation and all of your property as a result of your bankruptcy." Boris Becker's attorney, Jonathan Laidlaw, told the court that the ongoing hearings over Boris Becker's bankruptcy "have destroyed his career entirely and ruined any further prospect of earning an income."
Dean Beale, chief executive of the U.K.'s Insolvency Service, said the sentencing "confirms that Boris Becker failed to comply with his legal obligation to declare significant assets in his bankruptcy." Boris Becker won the Wimbledon championship three times, with his first victory there at the age of 17. He earned approximately $50 million over the course of his tennis career.
The sentencing of Boris Becker serves as a clear warning to those who think they can hide their assets and get away with it. Boris Becker's case will be remembered as a cautionary tale of the consequences of failing to comply with bankruptcy laws. On 18 June is not the date of the bankruptcy but the day the news was released is not specified but the bankruptcy was in 2017.