Bloomberg News

Ecclestone Allegedly Bribed Gribkowsky, German Prosecutors Say

July 19, 2011

July 19 (Bloomberg) -- Formula One Management Ltd. Chief Executive Officer Bernard Ecclestone allegedly bribed former Bayerische Landesbank risk manager Gerhard Gribkowsky, German prosecutors said.

The Munich State Prosecutors’ Office has charged Gribkowsky with corruption, embezzlement and tax evasion, Barbara Stockinger, a spokeswoman for the prosecutors, said by telephone.

A telephone call to the office of Gribkowsky’s attorney Reinhard Hoess outside office hours wasn’t answered. A message left on Ecclestone’s mobile phone wasn’t immediately returned, while a call to his personal assistant, Enrica Marenghi, at Formula One Management Ltd.’s London offices outside business hours wasn’t immediately returned.

Gribkowsky was arrested on Jan. 5 over allegations that he received about $50 million in kickbacks for engineering the sale of BayernLB’s stake in the Formula One racing tournament to CVC Capital Partners Ltd. Ecclestone was questioned by prosecutors in April.

Munich prosecutors said in a statement today that Gribkowsky is accused of taking $44 million in bribes via a company called Bambino Trust, according to a report in the Sueddeutsche Zeitung newspaper.

--With reporting by Blanche Gatt in London. Editor: John Pickering, Pat Oster

To contact the reporter on this story: Jeff Black in Frankfurt jblack25@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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