Bribery Trial: Ecclestone to appear as F1 case witness

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The Independent Online

Formula One boss Bernie Ecclestone is to appear as a witness in Germany's biggest post-war corruption trial which gets under way in Munich later this month.

Ecclestone confirmed yesterday for the first time that he will attend the controversial trial of German banker, Gerhard Gribkowsky, who has been charged with receiving a $44m (£28m) bribe in connection with the sale of Formula One to its current owner, CVC, in 2006.

Gribkowsky was the chief risk officer of German bank BayernLB and was responsible for selling its 47.2 per cent stake in F1's holding company, SLEC. BayernLB received $814m from CVC for its F1 shares and in the two years following the sale Gribkowsky was paid a total of $44m by Ecclestone and his offshore family trust Bambino.