Bernie Ecclestone says he paid Gerhard Gribkowsky but not as bribe – Formula 1 news
Formula 1 supremo, Bernie Ecclestone, has stated that he did pay some money to Gerhard Gribkowsky, head of the Bayerische Landesbank in 2006, but not as a bribe to own the Formula 1 shares presented for auction.
Ecclestone stated that he paid the money after Gerhard threatened to expose some financial dealings with Inland Revenue. Ecclestone further added that his lawyers also advised him to pay the money to Gerhard before Inland jumps in to the matter and things
got messy.
“They said 'I tell you what would happen, the Revenue would assess you and you would have to defend it. Better pay. I never bribed anybody or paid any money to anybody in connection with the company. I got five per cent for the sale of the company,” commented
Ecclestone.
Ecclestone added that if the payment had been a bribe then he would have received double the money for the deal. Instead he claims he received less which goes to show that the money was not a bribe. Ecclestone added, “He [Gerhard] never said to me if you
don't give me this I will say that. He left me with the fact that could he do it or not. The [Inland] Revenue obviously had to check everything. It took five years going through that.”
The 80-year-old added that the taxation department in England was getting involved in the matter and Gerhard was pushing for the deal to get finalised.
Previously, Gerhard was found guilty of using bank funds to pay Ecclestone and his trust after the deal was finalised between the bank and CVC Corporation. The prosecution in Munich stated that Ecclestone paid the bank to make sure CVC become the owner of
Formula 1.
Gerhard has been given ten years behind bars but Ecclestone’s future will be decided later by the prosecutors in Munich.
2011 Formula 1 season continues in Germany but the off track involvement of Ecclestone is expected to cause further controversy.
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