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16/01/2014
Forumla 1 Boss To Face Bribery Charge
Bernie Ecclestone, the boss of Formula 1, is to face charges of bribery following a ruling by a court in Munich.
Ecclestone is accused of attempting to bribe a German banker by giving him $45 million (£27.5m).
The banker, Gerhard Gribkowsky, is currently serving a jail sentence for accepting the payment.
Ecclestone admits paying the money to Gribkowsky but denies that it was a bribe, claiming instead that he has been the victim of blackmail.
It is claimed that Ecclestone paid Gribkowsky in an effort to ensure that Formula 1 was sold to a private equity firm of his choosing.
However, Ecclestone claim that he paid the money to Gribkowsky after the banker threatened to reveal false information regarding his tax affairs.
(MH/CD)
Ecclestone is accused of attempting to bribe a German banker by giving him $45 million (£27.5m).
The banker, Gerhard Gribkowsky, is currently serving a jail sentence for accepting the payment.
Ecclestone admits paying the money to Gribkowsky but denies that it was a bribe, claiming instead that he has been the victim of blackmail.
It is claimed that Ecclestone paid Gribkowsky in an effort to ensure that Formula 1 was sold to a private equity firm of his choosing.
However, Ecclestone claim that he paid the money to Gribkowsky after the banker threatened to reveal false information regarding his tax affairs.
(MH/CD)
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