RE: Banker admits 'accepting bribes' from Ecclestone
Discussion
From a friend:
Prosecuting lawyer Steinkraus-Koch quoted in Bild: Since 2011 an investigation of Bernie Ecclestone has been underway.
{Another?] Lawyer quoted in Bilb: Ecclestone ultimately faces a prison sentence of up to ten years. He should also expect the prosecutor to prepare an international arrest warrant and an extradition request.
This could all be pie in the sky of course but it can't be good for the floatation for its head to be, so to speak, on the chopping block.
Much as I look forward to the idea of Ecclestone's grip on F1 being loosened, this does not come at a good time. We have the teams squabbling to an extent and the FIA emasculated. If, as seems possible, Eclestone is put under pressure by insinuation and innuendo (insinuendo?) then there could be a power struggle the likes of which F1 has seen before.
Ferrari and RB havew nailed their colours to the board of the new concord agreement which might well have upset the other teams. Merc might not was to be infected by association.
It is worrying.
Any other time I would have expected Ecclestone to weather the storm, but at the moment the sport looks vulnerable.
Prosecuting lawyer Steinkraus-Koch quoted in Bild: Since 2011 an investigation of Bernie Ecclestone has been underway.
{Another?] Lawyer quoted in Bilb: Ecclestone ultimately faces a prison sentence of up to ten years. He should also expect the prosecutor to prepare an international arrest warrant and an extradition request.
This could all be pie in the sky of course but it can't be good for the floatation for its head to be, so to speak, on the chopping block.
Much as I look forward to the idea of Ecclestone's grip on F1 being loosened, this does not come at a good time. We have the teams squabbling to an extent and the FIA emasculated. If, as seems possible, Eclestone is put under pressure by insinuation and innuendo (insinuendo?) then there could be a power struggle the likes of which F1 has seen before.
Ferrari and RB havew nailed their colours to the board of the new concord agreement which might well have upset the other teams. Merc might not was to be infected by association.
It is worrying.
Any other time I would have expected Ecclestone to weather the storm, but at the moment the sport looks vulnerable.
PiB said:
Read about it in the Wall Street Journal Thursday's paper. BE pays risk management dude $44 million BE receives $41 from bank for doing a "very, very good job". In BE's world of wealth that wouldn't make sense to me.
I'm sure all those figures are spot on.According to the WSJ, more dependable I'm informed that the Bilb:
Mr. Ecclestone hasn't been charged in the case, but is under investigation and Prosecutor Christoph Rodler accused him in his closing statements Wednesday.
"Ecclestone was not a victim of blackmail, but a fellow participant in bribery," Mr. Rodler told the court, according to AP.
Okay - I get it now. From wiki.
"Ecclestone paid about $44 million to the former banker in order to get rid of the lender's stake in Formula One. Ecclestone told prosecutors he paid Gribkowsky because he blackmailed him with telling UK tax authorities about a family trust controlled by Ecclestone's former wife."
http://www.businessweek.com/news/2012-06-27/eccles...
"Ecclestone paid about $44 million to the former banker in order to get rid of the lender's stake in Formula One. Ecclestone told prosecutors he paid Gribkowsky because he blackmailed him with telling UK tax authorities about a family trust controlled by Ecclestone's former wife."
http://www.businessweek.com/news/2012-06-27/eccles...
Rather than start a new thread:
[url]
Bild newspaper indicated recently the F1 chief executive might skip the race after this weekendfs British grand prix for risk of arrest.
gThe prosecutorsf attitude has been quite aggressive in the last couple of days,h an unnamed person close to Ecclestone told the Financial Times.
The publication suggested Ecclestone may be suspended as F1Œs chief executive by owners CVC if he is charged.[/url]
What are the odds for Ecclestone being charged?
[url]
Bild newspaper indicated recently the F1 chief executive might skip the race after this weekendfs British grand prix for risk of arrest.
gThe prosecutorsf attitude has been quite aggressive in the last couple of days,h an unnamed person close to Ecclestone told the Financial Times.
The publication suggested Ecclestone may be suspended as F1Œs chief executive by owners CVC if he is charged.[/url]
What are the odds for Ecclestone being charged?
None in the UK.
As we know, it is impossible for a banker to commit a crime in this country. They are beyond the law. Therefore, any collusion between a banker and A N Other automatically ensures that A N Other is also immune from prosecution in what, after all, could not have been a crime.
Will he attend the German GP though?
As we know, it is impossible for a banker to commit a crime in this country. They are beyond the law. Therefore, any collusion between a banker and A N Other automatically ensures that A N Other is also immune from prosecution in what, after all, could not have been a crime.
Will he attend the German GP though?
Sorry for the corrupt link.
I was just surfing the various F1 website for pre British GP when I found it. It's from Saturday so a little late.
http://www.totalf1.com/full_story/view/421598/Eccl...
[/url]
I was just surfing the various F1 website for pre British GP when I found it. It's from Saturday so a little late.
http://www.totalf1.com/full_story/view/421598/Eccl...
[/url]
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