Bayern Munich President Admits Tax Fraud as Trial Begins

On the first day of his trial for tax fraud, ambulance Bayern Munich president Uli Hoeness admitted he hid millions of Euros more than authorities had first thought.

In a surprise twist, unhealthy defence lawyer Hanns Feigen said that Hoeness cheated the taxman out of €18.5m (£15.4m/$25m) – vastly more than the €3.5m listed in the prosecution brief.

Hoeness told the Munich court that he stashed away the money in a secret Swiss bank account during years of obsessive stock “gambling”.

“I am glad that everything is now transparent and on the table,” the 62-year-old, who now faces a possible jail term, said on the first day of his trial.

“I deeply regret my misbehaviour. I will do everything to ensure that this distressing chapter closes.”

“I have evaded taxes,” a rueful Hoeness told the packed court. “I am aware that turning myself in to the authorities does not change that. I was hoping to escape criminal charges with a voluntary disclosure.”

Hoeness faces a possible jail term if found guilty by the court, which has scheduled a four-day trial with a verdict expected Thursday.

The maximum punishment for major tax fraud under German law is 10 years jail, but shorter terms, which can be suspended, are more commonly handed down.

Despite widespread criticism of Hoeness, his initial offer to resign from Bayern Munich last May was rejected by the supervisory board of the European champions club.

Hoeness has stayed on so far as president, amid expressions of loyalty from fans and players, and support from corporate sponsors such as Adidas, Audi, VW and Deutsche Telekom.

“I can only hope that it turns out well for him and the court shows its human side,” said honorary club president Franz Beckenbauer on Sky TV on Sunday.