F1 boss Bernie Ecclestone has been charged by German prosecutors with alleged bribery in connection with the sale of a stake in the global racing series. Ecclestone has been under investigation since a German banker was convicted of taking an illegal payment from him worth 44 million.
Ecclestone told the Munich state court he felt pressured into paying the cash in 2006 because he was worried that Gerhard Gribkowsky would report him to British tax authorities. The court said in a statement on Wednesday that Ecclestone had been charged with bribery and incitement to breach of trust in connection with Gribkowskys management of BayernLBs stake in F1.
The lawyers have accepted an indictment, Ecclestone said. It means they have to reply to the indictment which they are strenuously doing. Ecclestone has yet to read the indictment,which the court said he has until mid-August to respond to. They are alleging I bribed someone, Ecclestone said,while insisting he did nothing illegal.
Gribkowsky was in charge of managing the sale of BayernLBs stake in F1. In addition to taking the money from Ecclestone,Gribkowsky used BayernLBs funds to pay the F1 chief a commission of 41.4 million and agreed to pay a further 25 million to Bambino Trust,a company with which Ecclestone was affiliated,prosecutors maintained during the trial.