Gerhard Gribkowsky, the German banker who took monetary bribes from Formula 1 supremo Bernie Ecclestone during the sale of shares to CVC, has been sentenced to eight and a half years in prison. The 54-year-old, a Chief Risk Officer at his former company, was charged with bribery, breach of trust and tax evasion.
During the acquisition of Formula 1 back in 2005, it has been alleged that Gribkowsky received a total of 44 million dollars (28.3 million pounds) from a bribed Ecclestone, with the former admitting that this was ‘essentially true’ in court last week.
It also surfaced in court that Ecclestone paid the money in order to prevent Gribkowsky from contacting the British tax authorities and submitting a selection of allegations. With the money transferred as a deterrent, no such threats transpired.
"Mr. Gribkowsky was quite sophisticated in shaking me down," Ecclestone explained. "I’ve got shaken down by a lot of people, but not as subtle as with Mr. Gribkowsky."
Following the announcement of Gribkowsky’s sentence, it is unclear as to whether further investigations will take place into Ecclestone’s involvement in the situation.
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