14 May 2014

Jailed German banker tells court Ecclestone offered him bribe

6:42 am on 14 May 2014

A jailed German banker has told a court that Formula One boss Bernie Ecclestone had bribed him when they worked together in the motor sport, supporting the prosecution case in the Briton's trial.

Ecclestone is accused of bribing Gerhard Gribkowsky by channelling $50 million to him in return for smoothing the sale of a stake in Formula One to a private equity firm eight years ago.

The 83-year-old, who denies bribery charges, could face up to 10 years in prison if found guilty and a conviction would end his long grip on a business he helped to create.

Gribkowsky traced his agreement with Ecclestone back to a series of meetings, including one on May 17, 2005, and said he was culpable for allowing himself to be corrupted.

However, Gribkowsky was again unable to say precisely what Ecclestone expected in return for the payment.