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Ecclestone pays $100m to escape jail term

Formula 1 czar Bernie Ecclestone has avoided a jail term with a German court ending his bribery trial by accepting a $100m payment. A loophole in the law has allowed F1’s commercial giant to walk free from a Munich court. The 83-year-old, who has an estimated personal wealth of $4.2 billion pounds, had faced accusations that he paid off German banker Gerhard Gribkowsky almost $50m. The bribe centred around favouring a company that would buy a stake in in the sport so that Ecclestone could remain at the commercial helm. Gribkowsky was sentenced to eight and a half years in jail in 2012 for accepting bribes. Ecclestone countered that the payment to Gribkowsky had been made after the...
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1y ago from SpeedCafe.com 0
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