WTF? Bernie bribes his way out of bribery case?
Discussion
RYH64E said:
It makes a pleasant change for the perpetrator of financial wrongdoing to get any punishment at all, they usually pocket their bonus whilst their employer pays the fine.
I don't see the problem with a financial crime being dealt with by way of a suitable financial penalty, especially if the penalty is large enough - and $100m is pretty substantial.
And if you didn't have the money to pay such a massive fine? Would you end up in jail?I don't see the problem with a financial crime being dealt with by way of a suitable financial penalty, especially if the penalty is large enough - and $100m is pretty substantial.
Best of all, Ecclestone won't even notice not having 100m. He gets to avoid the possibility of being sent down for what (for him) is a completely inconsequential sum.
It might seem a bit more fair if the price of keeping his liberty actually meant something to him - which would mean measuring it in £bn.
It might seem a bit more fair if the price of keeping his liberty actually meant something to him - which would mean measuring it in £bn.
http://www.thelawyer.com/news/practice-areas/litig...
This was the first bit of it. Doing a quick sum, the £85 million that he seems to have got from this deal just about covers both the bribe he was said to have paid to the banker and the £60m that he just gave Bavaria.
So the net effect of this for Mr. Ecclestone is that he's all square, a banker is in prison, and Medien is down $85m.
I wouldn't be surprised if we find out that Bernie has bought F1 back off CVC at a low valuation using a shell company in the last few weeks, knowing full well that he had this deal in the works.
This was the first bit of it. Doing a quick sum, the £85 million that he seems to have got from this deal just about covers both the bribe he was said to have paid to the banker and the £60m that he just gave Bavaria.
So the net effect of this for Mr. Ecclestone is that he's all square, a banker is in prison, and Medien is down $85m.
I wouldn't be surprised if we find out that Bernie has bought F1 back off CVC at a low valuation using a shell company in the last few weeks, knowing full well that he had this deal in the works.
mollytherocker said:
Welcome everybody to the real world. Its pretty ugly at times.
Quite.Rich bloke avoids jail.
German public purse better off to the tune of €100m
Nobody died.
Maybe it's right. Maybe it's not but to be honest, there's a whole heap of stuff worthy of more attention and debate. See the News for more information.
longshot said:
StevieBee said:
Maybe it's right. Maybe it's not but to be honest, there's a whole heap of stuff worthy of more attention and debate. See the News for more information.
Go and make a thread about it then.StevieBee said:
longshot said:
StevieBee said:
Maybe it's right. Maybe it's not but to be honest, there's a whole heap of stuff worthy of more attention and debate. See the News for more information.
Go and make a thread about it then.Walford said:
if you look at the financial crisis, all the scam bank trading, rating agency's giving AAA when they new for years it was a house of cards, how many ended up in court ?
It's a good point. And how many senior management gave themselves a nice big raise for all their hard work ;-)
A friend has suggested that there might well be another reason for the acceptance of the settlement. Given that there was the other settlement a couple of weeks ago, this of an additional £20m.
She's suggested medical reasons.
If the court is presented with evidence of, for instance, a life threatening illness, or perhaps some other medical reason, then this might well come within public interest. It would appear that all the prosecution evidence hasn't been presented. The reasons for this could have something to do with it as well, but I feel certain Haymarket would not appreciate the suggestions she came up with.
She's suggested medical reasons.
If the court is presented with evidence of, for instance, a life threatening illness, or perhaps some other medical reason, then this might well come within public interest. It would appear that all the prosecution evidence hasn't been presented. The reasons for this could have something to do with it as well, but I feel certain Haymarket would not appreciate the suggestions she came up with.
According to the BBC, Bernie now has buyer's remorse.
"F1 boss Bernie Ecclestone: I was 'a bit of an idiot' for settling case"
http://www.bbc.co.uk/sport/0/formula1/28671472
"F1 boss Bernie Ecclestone: I was 'a bit of an idiot' for settling case"
http://www.bbc.co.uk/sport/0/formula1/28671472
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