Gribkowsky sentenced, Ecclestone in the crosshairs
The German justice system has delivered its verdict: Gerhard Gribkowsky has been found guilty of breach of trust, tax evasion, and corruption. The former Bayern LB banker has been sentenced to eight and a half years in prison.
So this marks the end of a case that began in January 2011 with the arrest of the German banker Gerhard Gribkowsky. At the time, the Munich prosecutor wanted to know the exact origin of the 50 million euros invested by the former board member of Bayern LB bank in an Austrian foundation in 2008.
Judge Peter Noll has thus ruled and deemed that the facts were serious enough to justify such a long imprisonment. Indeed, according to the German judicial code, corruption can result in prison sentences ranging from three months to five years.
The Bavarian prosecutor, Christoph Rodler, did not fail to mention a prominent figure in this case, namely Bernie Ecclestone. During the investigation, he admitted to making a payment of 14 million pounds to silence the German banker regarding possible tax fraud charges. Gehrard Gribkowsky allegedly threatened to contact the British tax authorities to indicate that Bernie Ecclestone had effective control of the Bambino Trust, officially held by the then-wife of the British billionaire, Slavica Ecclestone.
For Christoph Rodler, Bernie Ecclestone is not an innocent victim of extortion but rather a complicit party in an act of corruption. Although he has not yet faced any charges in Germany or England, Bernie Ecclestone could thus become the target of both judicial systems. The UK’s Serious Fraud Office announced last November that it might take a keen interest in this case, given that the financial stakes are as significant as the amounts of money involved in Formula 1.
The big question that has yet to be answered is: how were Bernie Ecclestone and Bambino Trust, considered as two entirely distinct entities, able to make a payment to the German banker without any consultation. Yet, Bernie Ecclestone’s statements suggest that he alone was truly threatened by Gehrard Gribkowsky’s (true or false) revelation.
Nevertheless, the financial powerhouse of Formula 1 has a fortune that allows him to afford the best lawyers. A legal procedure against him would therefore take years to conclude. However, Bernie Ecclestone is already 81 years old…
With the participation of RacingBusiness.fr
