Ecclestone pays US$100m to end trial in Germany
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E-mail Xinhua, August 5, 2014
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A German court yesterday halted a bribery trial against Bernie Ecclestone in exchange for his paying a US$100 million fee. |
The bribery trial against Formula One chief Bernie Ecclestone ended, the presiding judge Peter Noll announced on Tuesday noon.
All process participants have accepted an offer of 100 million dollar by the accused, the presiding judge said.
Ecclestone needs to pay 100 million dollar within one week. And the 83-year-old Briton is regarded now as innocent and not convicted, according to the Munich Regional Court.
After paying the money, the accusation of bribery and abetting breach of fiduciary duty in a severe case is off the table.
Ecclestone, a former used car salesman who became a billionaire by building the sport into a global money spinner over the past four decades, is allowed to remain at the forefront of F1.
German media has already predicted the result of the trial, considering his advanced age and other circumstances.
Ecclestone has been charged with bribing the jailed German banker Gerhard Gribkowsky to smooth the sale of a stake in Formula One to private equity firm CVC in 2006. If convicted, he could face up to 10 years in jail.
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