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Thursday 18 September 2014

Formula One boss Ecclestone bribery charges dropped for $100m

Published 05/08/2014 | 12:44

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Bernie Ecclestone: 'grateful' for chance to clear his name. Reuters
Bernie Ecclestone. Reuters

A German court has dropped the bribery case against Bernie Ecclestone in exchange for a 100 million US dollar (£59 million) payment from the Formula One chief.

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Judge Peter Noll told the Munich state court today that Ecclestone's trial was finished, news agency dpa reported.

He had faced charges of bribery and incitement to breach of trust.

The charges involved a 44 million US dollar (£26 million) payment to banker Gerhard Gribkowsky, who is serving an eight-and-a-half-year sentence for taking the money and was convicted of offences including tax evasion.

The 83-year-old Ecclestone denied wrongdoing and said Gribkowsky blackmailed him.

Ecclestone's lawyers last week called for proceedings to be dropped. The agreed on a 100 million US dollar payment in talks with prosecutors.

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