Bayern Munich boss Hoeness admits to tax fraud

London, Mar.11: Bayern Munich President and Germany’s “Mr. Football” Uli Hoeness has admitted to committing tax fraud, and could face a jail term if convicted.

According to the BBC, Hoeness has admitted in court to defrauding Germany’s tax authorities of 18 million Euros (15 million pounds or 25 million dollars).

The former World Cup-winning German international footballer, 62, is reported to have kept the funds in a secret Swiss bank account.

He told the court that he deeply regretted his wrongdoing.

Hoeness was a man with whom everybody from Chancellor Angela Merkel down was pleased to be seen with, but fate eventually caught up with him in a court room in Munich.

He was initially accused of not declaring more than 33 million Euros in income on which he should have paid 3.5 million in tax.

But his lawyer has now said that this figure of unpaid tax is actually higher.

Hoeness came forward to admit the account only after the media got wind of it.

He received a phone call warning him of the investigation while having lunch with Chancellor Merkel.

At 62, he is portly, perhaps twice the weight he was when, as a magical forward in 1974, he helped Bayern Munich win the European Cup and Germany the World Cup.

The penalty for tax evasion can be ten years in jail, though the prosecution says it will seek a seven-year sentence.

A verdict is expected on Thursday. (ANI)