Formula 1 boss indicted on bribery charge | AccountingWEB

Formula 1 boss indicted on bribery charge

German prosecutors have indicted Formula 1 motor racing boss Bernie Ecclestone on a bribery charge.

The charge relates to a US$44m (£29m) payment to German banker Gerhard Gribkowsky of Bayern Landesbank, linked to the sale of a stake in F1, according to reports.

Ecclestone denied bribing Gribkowsky, and said the money was intended to stop the banker from exposing him to a UK tax inquiry, the BBC reported.

Gribkowsky was sentenced to eight-and-a-half years in jail in Munich.

Speaking to the Financial Times on Wednesday, Ecclestone said...


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