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F1 boss Ecclestone accused of offering $12.5 million bribe

Published on May 10, 2014 4:32 AM
Formula One chief executive Bernie Ecclestone arrives for the third day of his trial in the regional court in Munich on May 9, 2014. -- PHOTO: REUTERS

MUNICH (AFP) - Convicted German banker Gerhard Gribkowsky, a key witness in the corruption trial of Bernie Ecclestone, told a court on Friday that the Formula One boss offered him a US$10 million (S$12.5 million) bribe in 2004.

Questioned for several hours at the Munich hearing, Gribkowsky said the motoring magnate had offered him the multi-million dollar bribe in order to resolve a legal dispute linked to the sale of Formula One rights.

Gribkowsky was risk manager at BayernLB bank at the time, which was the biggest shareholder of Formula One but Bernie Ecclestone had a veto with a "golden share".

The German bank had decided to challenge that veto in court.

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