F1 boss Bernie Ecclestone rejects bribery charges
Source: AP
MUNICH —
Formula One boss Bernie Ecclestone rejected accusations of bribery as he went on trial Thursday in a case that could threaten his grip on the sport, telling a Munich court that he was blackmailed by a German banker who received a disputed $44 million payment.
Ecclestone said at the beginning of a four-hour personal statement read out in German by his lawyers that he was "grateful" to be able to give his side of the story — though he told judges that he would answer questions from the Munich state court through his lawyers, rather than personally.
The 83-year-old Ecclestone is charged with bribery and incitement to breach of trust, and could face up to 10 years in prison if convicted. The charges involve a $44 million payment to banker Gerhard Gribkowsky, who is serving an 8½-year sentence for taking the money. Ecclestone appeared in court in a dark three-piece suit and followed the proceedings closely with help from an interpreter whispering into his ear.
Prosecutors allege the payment was meant to facilitate the sale of Munich-based bank Bayern LB's stake in Formula One to a buyer of Ecclestone's liking. Gribkowsky was in charge of selling that 47 percent stake in F1 in 2005.
Read more: http://www.statesman.com/news/ap/sports/f1-boss-bernie-ecclestone-rejects-bribery-charges/nfgxD/
Austin is where the Circuit of the Americas, Formula One United States Grand Prix race was held in 2012 and 2013.
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