Posted on October 28, 2013

[Updated] Tomorrow in London, F1′s commercial boss Bernie Ecclestone begins the defence of a US$170m legal action against him and three other defendants, over the sale of F1 by Bayern LB to CVC in 2005 and the payments around the time of the sale, made by Ecclestone to disgraced Bayern LB employee Gerhard Gribkowsky. Ecclestone has acknowledged making the payments, but denies they were bribes. He says that the payments were in response to Gribkowsky blackmailing him over the conduct of the Bambino Trust. The German threatened to claim to UK Tax Authorities that Ecclestone controlled the trust which would More…

Posted on June 27, 2012

Gerhard Gribkowsky, the banker from Bayern LB who was once chairman of the F1 holding board, has been convicted of corruption and sentenced to eight and a half years in jail. According to Reuters this evening, “Presiding judge Peter Noll convicted BayernLB’s former chief risk officer Gerhard Gribkowsky of tax evasion, bribery and breach of fiduciary trust in a court in Munich. “Noll described the billionaire (Bernie) Ecclestone as the “driving force” behind the payments but said Gribkowsky, in turn, had shown “high criminal energy” ” Prosecutor Christophe Rodler had summed up his case by saying that Ecclestone was “not More…

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