Gerhard Gribkowsky indicted for corruption
Six months after his arrest, Gerhard Gribkowsky is now officially charged by the Munich prosecutor with corruption, embezzlement, and tax evasion. But most notably, Bernie Ecclestone is clearly in the crosshairs of the German justice system in this protracted case.
Thus, the Munich public prosecutor’s office accuses the former German banker of receiving a $44 million bribe in connection with BayernLB’s sale to CVC Capital, the current owner of F1’s commercial rights. The German judiciary is said to have investigated two companies in Austria that, in total, received these $44 million with the authorization of a certain “Bernard E,” who allegedly has ties to Bambino Trust.
The accusations go even further than originally thought, with the F1’s chief financier clearly in the crosshairs as he allegedly received 41.4 million dollars in commission directly, plus an additional 25 million dollars paid to his family trust, Bambino Holdings. The argument largely defended by Bernie Ecclestone’s supporters, with the site pitpass at the forefront, was that he could not have made the payment to Gerhard Gribkowsky since he had nothing to gain from the sale as he was not the seller. These 66.4 million dollars significantly change the situation.
According to the results of the investigation, this involves dirty money, disguised under two fake consulting contracts to companies based in Mauritius and the British Virgin Islands. These payments would not have been requested if it weren’t for the corruption of the accused. The Bayerische Landesbank suffered a loss of nearly $66.5 million through the conduct of the accused, stated the Munich prosecutor’s office.
We will therefore see what the consequences of these statements will be for the two men involved. Let us simply recall Bernie Ecclestone’s statements last April: «I have cooperated with the State Prosecutor’s Office’s investigation into Dr. Gribkowsky’s affairs from the beginning. When I was informed that there was an initial suspicion regarding my potential involvement in this matter, I went to see the Prosecutor and his team at the beginning of the month to clear all allegations against me. I will continue to fully assist the State Prosecutor’s Office and I am confident that once all the facts are established, I will be exonerated of all suspicion.»
Now, it’s up to the court to make its decision, but let’s bet that several more months will be needed to reach a final judgment.
With the participation of RacingBusiness.fr
