Comment
0
Tweet
0
Print
RSS Feeds

German banker testifies that Ecclestone bribed him

Tuesday - 5/13/2014, 8:52am  ET

Formula One boss Bernie Ecclestone, right, waits prior to the fourth day of his trial at the courthouse in Munich, southern Germany, Tuesday, May 13, 2014. Ecclestone is charged with bribery and incitement to breach of trust "in an especially grave case" over a US dollar 44 million payment to a German banker, that prosecutors allege was meant to facilitate the sale of the Formula One Group to a buyer of Ecclestone's liking. (AP Photo/Christof Stache, Pool)

MUNICH (AP) -- A German banker has told a Munich court that he accepted a multi-million dollar bribe from Formula One boss Bernie Ecclestone to facilitate a business deal.

Gerhard Gribkowsky, the prosecution's star witness in Ecclestone's corruption trial, testified Tuesday that Ecclestone initially approached him suggesting the deal be made in Singapore.

Gribkowsky testified he "understood Ecclestone knew a lot of people there, among them the head of police."

Gribkowsky, who has been convicted of taking the money, says in the end he was paid $44 million, allegedly to facilitate the sale of Munich-based bank Bayern LB's 47 percent stake in F1 to a buyer of Ecclestone's liking.

Ecclestone says he was blackmailed into making the payment, but Gribkowsky told the court he was no "evil extortionist."


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.