World News

Tuesday 22 July 2014

Banker testifies in Ecclestone case

Published 09/05/2014|15:47

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Formula One boss Bernie Ecclestone leaves the courtroom on the third day of his trial in Munich (AP)

A German banker who alleges he was bribed by Bernie Ecclestone has testified for the first time in the Formula One boss's corruption trial.

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Gerhard Gribkowsky is the prosecution's star witness against Ecclestone, who claims he was blackmailed into making a 44 million dollar (£26m) payment to the banker.

Gribkowsky was sentenced to eight and a half years in prison in 2012 for taking the money after a trial in which the 83-year-old Ecclestone testified against him.

Ecclestone could face up to 10 years in prison if convicted of bribery and incitement to breach of trust.

Prosecutors allege the payment was meant to facilitate the sale of Munich-based bank Bayern LB's 47% stake in F1 to a buyer of Ecclestone's liking.

The Munich court has set aside four days for Gribkowsky's testimony.

Press Association

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