Bernie Ecclestone, 2013

Ecclestone pays £59m to end bribery trial

2014 F1 seasonPosted on Author Keith Collantine

Bernie Ecclestone, 2013Bernie Ecclestone’s trial on charges of bribery has come to an end after he offered to pay £59m ($100m) as a settlement.

German law permits defendants to settle trials by payment in some situations, without being judged guilty or innocent.

It brings an end to a trial which lasted four months and threatened to leave Ecclestone with a prison sentence of up to ten years had he been found guilty.

Bayerische Landesbank claimed Ecclestone had bribed their employee Gerhard Gribkowsky with £27m ($44m) in 2006 to ensure Formula One was sold to its current owners CVC Capital Partners. They alleged he preferred CVC as a buyer because they would keep him in charge of the sport.

Gribkowsky was sentenced to eight-and-a-half years in prison for his role in the affair in June 2012.

Ecclestone stood down from his role as director of Formula One in January due to the imminent legal proceedings in Germany and a related case in Britain, which he won the following month.

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