Sidecar racers have the biggest cojones
Bernie Ecclestone to discover if he will be charged with 'aiding and abetting' German banker's breach of trust
Bernie Ecclestone, Formula One’s chief executive, is set to discover imminently whether he will be charged by Munich prosecutors with “aiding and abetting” a German banker’s breach of trust.
Gerhard Gribkowsky, formerly chief risk manager of state-owned BayernLB, who had a stake in the sport at the time, oversaw F1’s sale to private equity firm CVC Capital Partners in 2006.
He was arrested on Jan 5 with $50 million of unexplained funds in an Austrian company registered in his name.
Prosecutors allege that Gribkowsky led the bank to sell its stake “without evaluation of its current value” which, in turn, earned him “two consultancy contracts totalling $50 million”. Gribkowsky claims he received this money from Ecclestone.
Gribkowsky has been held in Munich’s notorious Stadelheim prison, where Hitler spent time in 1922 for disturbing the peace, since Jan 5 as the prosecutor decides whether to bring charges against him and Ecclestone, who has been accused of “aiding and abetting”.
Ecclestone, 80, travelled to Germany in April to speak to the prosecutor.