Bernie Ecclestone hits back at the allegations of bribery charged against him – Formula 1 news
Bernie Ecclestone has hit back at the allegations charged against him for bribery.
The German banker Gerhard Gribkowsky has admitted to the German court this week that he has received corrupt payments during the sale of Formula One.
Gribkowsky the former risk officer of Bayern LB who is facing charges of tax evasion, breach of trust and receiving corrupt payments has revealed to the court on Wednesday that the allegations he received £28 million in bribes during the sale of F1. He said
that the allegations are true though Ecclestone has not been charged of any wrong doing and during his appearance at the trial in November he said that he had made payments after he was “shaken down” by Gribkowsky.
Ecclestone said that Gribkowsky was threatening to go to the UK tax authorities with false allegations. The allegations were targeted towards one of the ways his family trust was being run.
In November Ecclestone told the court, “It's something that went on for quite a long period. He was very sophisticated in the way he was shaking me down. I have been shaken down by other people but I must confess not quite as professionally as he did.”
But Gribkowsky said Ecclestone had told him during a meeting in 2005 that “the practice in Formula One is that you scratch my back and I scratch yours”. Ecclestone hit back on Wednesday, telling the Daily Telegraph that the fresh allegations are an attempt
by Gribkowsky to shorten his sentence.
He added that he had an idea that Gribkowsky was going to say that regarding the receiving of bribes, so that he gets seven years sentence instead of 14 years.
The case is still ongoing and a judgement on the case is expected to be held sometime next week.
The case can have grave implications on Ecclestone and can also result in a different Formula 1 boss if found guilty. Formula 1 stakes were recently made public and sold stakes worth $550 million.
It will be interesting to see how the case progresses and what details come to the front regarding the issue.
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