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Munich prosecutors bring charges in F1 sale

Munich prosecutors bring charges in F1 sale

Prosecutors have brought bribery and tax evasion charges against a former executive at BayernLB bank in connection with the 2006 sale of Formula 1 to CVC Capital Partners, saying he took money from the CEO of Formula 1.
The Munich prosecutor says it's now up to a court whether to hold a trial for Gerhard Gribkowsky.
Gribkowsky was responsible for disposing of the bank's stake in Formula 1.
Prosecutor's spokeswoman Barbara Stockinger says in a news release that Gribkowsky took $44 million in payments from the CEO of Formula 1, identified as a "Bernard E.", as well as a holding company.
Formula 1 chief Bernard Ecclestone has met with prosecutors over the case but has said he is confident he will be exonerated of any wrongdoing.


Updated : 2021-10-18 12:56 GMT+08:00