Tuesday 26th June 2012

Banker admits 'accepting bribes' from Ecclestone

Munich banker Gerhard Gribowsky tells court he took payments he regarded as bribes during F1 sale

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Gerhard Gribowsky, the Banker on trial for corruption charges of the sale of shares in Formula One, has admitted in court that he received the equivalent of millions of pounds from Ecclestone - payments he said he regarded as bribes.

The revelation could land F1 boss Bernie Ecclestone in hot water, possibly facing a custodial sentence were he to be found guilty. "Bernie Ecclestone should expect the [the state prosecutor] to prepare an international arrest warrant and an extradition request," German legal consultant Sewarion Kirkitadze said in German newspaper Bild. "Ultimately he could face a prison sentence of up to 10 years."

Gribkowsky, who has been in prison for the past 18 months and on trial since last October, is charged with receiving corrupt payments, tax evasion, and breach of trust against his employer (BayernLB) during the sale of the banks F1 shares to CVC Capital Partners in 2006.

Gribkowsky, who made the statement in a deal to help shorten his expected prison sentence, said: "I allowed myself to be bribed. It has taken me a long time to come to terms with what I did and to admit even to myself -- yes, it was bribery, and yes, I should have paid tax. Even today I have troubles accepting this as reality. With hindsight, I know now that I should have said no to [Ecclestone's] demands."

Ecclestone, however, seems typically sanguine about the situation, telling the Telegraph that "I suppose he would say that [about receiving bribes], so maybe he gets seven years instead of 14 years. The poor guy has been banged up for 18 months. He would have said anything to save himself. He was going to be locked up whatever happens."

More formally, Ecclestone's lawyer Sven Thomas has said emphatically that Gribkowsky's statement won't necessarily mean Ecclestone will face bribery charges himself.

"Dr Gribkowsky's trial and the result of it are neither binding for the investigation into Mr. Ecclestone, nor is the evidence established in this case useable against him," he said in a written statement. "Mr Ecclestone's defence has not taken part in the ongoing trial; it could not exert any influence, and presented no evidence. This is particularly applicable to disproving the recent views [expressed] in the court about alleged agreements between Dr Gribkowsky and Mr Ecclestone."

[suffolk009]

so what are the odds on Bernie getting ten years? slim to none, I guess.

[Trusty Steed]

Who is a naughty boy then!!

More formally, Ecclestone's lawyer Sven Thomas has said emphatically that Gribkowsky's statement won't necessarily mean Ecclestone will face bribery charges himself.

Does this statement also mean someone else has taken a bung so he doesnt get charged..........

Edited by Trusty Steed on Tuesday 26th June 15:13

[Jasandjules]

suffolk009 said:

so what are the odds on Bernie getting ten years? slim to none, I guess.

Goes off to check how much he has donated to Govts......................

[griffdude]

Hope they manage to convict the poisonous little dwarf.

[Munter]

suffolk009 said:

so what are the odds on Bernie getting ten years? slim to none, I guess.

I agree. The chap on trial considered them to be bribes. To me that says "legally the payments were ok, but in reality they were bribes". And bernie will remain free.

[toppstuff]

The most interesting thing here is that no-one, absolutely no-one on the planet, is even a little bit surprised.

Of course the little fella is corrupt. Of course he pays bribes to get what he wants.

The big question is if anyone has the cahunas to do anything about it...

[y2blade]

toppstuff said:

The most interesting thing here is that no-one, absolutely no-one on the planet, is even a little bit surprised.

Of course the little fella is corrupt. Of course he pays bribes to get what he wants.

The big question is if anyone has the cahunas to do anything about it...

Well said

[PILCH 23]

I cannot see this impacting on Bernie. He will have a good team of lawyers and company directors around him. Also he is so involved with governments that none of them can afford to put him away.

[epom]

I notice Bernie never denied it... however he did make a pretty smart statement in relation to the guy saying he would say anything to save himself, therefore even though most would probably believe to be true that statement makes you think. 2 weeks time this will be another non story !!

[tommy vercetti]

y2blade said:

toppstuff said:

The most interesting thing here is that no-one, absolutely no-one on the planet, is even a little bit surprised.

Of course the little fella is corrupt. Of course he pays bribes to get what he wants.

The big question is if anyone has the cahunas to do anything about it...

Well said

+1

[Fire99]

tommy vercetti said:

y2blade said:

toppstuff said:

The most interesting thing here is that no-one, absolutely no-one on the planet, is even a little bit surprised.

Of course the little fella is corrupt. Of course he pays bribes to get what he wants.

The big question is if anyone has the cahunas to do anything about it...

Well said

+1

+ another 1

[Sicob]

Still; Bernie has made F1 what it is today. Ok, a little too much control, and you could argue too much commercial consideration undoubtedly. But I think the breadth of coverage, tracks and the spectacle it is, is a lot down to him.

(nb doesnt really justify bribery if that's the case. Anyhow he can pay off anyone who disagrees).

[MacW]

Sicob said:

Still; Bernie has made F1 what it is today. Ok, a little too much control, and you could argue too much commercial consideration undoubtedly. But I think the breadth of coverage, tracks and the spectacle it is, is a lot down to him.

(nb doesnt really justify bribery if that's the case. Anyhow he can pay off anyone who disagrees).

I disagree....

/wait for cheque.

[gaz9185]

NO SURPRISE....MONEY TALKS (ESPECIALLY WHEN IT'S IN TROUBLE) BUT ALL GOVERNMENT OFFICIALS SEEM ADEPT AT HANDLING BROWN PAPER PARCELS. NOT NICE TO BRAND BERNIE A DWARF UNLESS WITH THE TAG "FROM LITTLE THINGS BIG THINGS GROW" BUT THAT WOULD BE REFERRING TO HIS MONEY POT. YOU'RE ALL JEALOUS OF HIM 'COS YOU CAN'T BUY THAT SUPERB 'SHED' YOU'D LIKE.........

[Escort Si-130]

Ok then, short stuff.

Regardless I cannot see anything sticking against him. If he goes to court that would be the most, prison sentence I cannot see it happening.

gaz9185 said:

NO SURPRISE....MONEY TALKS (ESPECIALLY WHEN IT'S IN TROUBLE) BUT ALL GOVERNMENT OFFICIALS SEEM ADEPT AT HANDLING BROWN PAPER PARCELS. NOT NICE TO BRAND BERNIE A DWARF UNLESS WITH THE TAG "FROM LITTLE THINGS BIG THINGS GROW" BUT THAT WOULD BE REFERRING TO HIS MONEY POT. YOU'RE ALL JEALOUS OF HIM 'COS YOU CAN'T BUY THAT SUPERB 'SHED' YOU'D LIKE.........

[LordFlathead]

griffdude said:

Hope they manage to convict the poisonous little dwarf.

+ 1,000,000

I hate this little man that has done nothing other than to turn what was a well respected motor sport into the equivalent of a pay per view cheesy TV show.

No doubt this act will tarnish further the F1 image and reduce the interest some more.

Ooh what a lot of negativity!

[arkenphel]

I'm not surprised about the 'legal payments'. There isn't a field of business in the world that doesn't have a little 'sugar' on top.* It ain't legal, but it's there and it happens. Some people call them bribes, others call them a tip or a gift. Bernie is right though. If I were in prison, I'd say anything to get me out.

• I don't necessarily have proof of this, but I like to voice my opinion. Just in case anyone really cares...

[Tankman2]

toppstuff said:

The most interesting thing here is that no-one, absolutely no-one on the planet, is even a little bit surprised.

Of course the little fella is corrupt. Of course he pays bribes to get what he wants.

The big question is if anyone has the cahunas to do anything about it...

Indeed.

They would probably need to be of industrial proportions. I don't know, but I would guess that, anyone who is up for a little bit of bribery and corruption is probably not that far removed from knowing someone with a baseball bat and knuckle dusters?

Disclaimer: Please note the question mark. Any similarities between persons real or imagined is purely coincidental.

All comments are meant in a light hearted and fun loving manner. Nothing contained herein is meant as a slight on the reputation or integrity of any persons previously mentioned or related to this article.

Edited by Tankman2 on Tuesday 26th June 14:02

Edited by Tankman2 on Tuesday 26th June 14:02

[RevOne]

When you compare the amount of tax that Gribowsky evaded to the amount that Bernie suposedly bribed him with its pretty insignificant. IIRC 3.2Bn vs 44Ml. I'm sure Bernie would have made sure that the paper trail disproves the blatant bribery that went on though anyway... he isnt an idiot afterall.

[angusc43]

LordFlathead said:

griffdude said:

Hope they manage to convict the poisonous little dwarf.

+ 1,000,000

I hate this little man that has done nothing other than to turn what was a well respected motor sport into the equivalent of a pay per view cheesy TV show.

No doubt this act will tarnish further the F1 image and reduce the interest some more.

Ooh what a lot of negativity!

Thank God he no longer has anything to do with my local team, QPR. He and Flabbio left that in a right mess and couldn't give a t*ss. Nice guys.......