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Formula 1 boss Ecclestone indicted Formula 1 boss Ecclestone indicted
(35 minutes later)
German prosecutors have indicted Formula One boss Bernie Ecclestone for alleged bribery. German prosecutors have indicted Formula 1 boss Bernie Ecclestone for alleged bribery.
The charge relates to a $44m (£29m) payment to a German banker, Gerhard Gribkowsky of Bayern Landesbank. It was linked to the sale of a stake in F1.The charge relates to a $44m (£29m) payment to a German banker, Gerhard Gribkowsky of Bayern Landesbank. It was linked to the sale of a stake in F1.
Mr Ecclestone said he had paid Mr Gribkowsky to avoid a UK tax inquiry into the sale of Formula 1 in 2006, but denied the payments were bribes.Mr Ecclestone said he had paid Mr Gribkowsky to avoid a UK tax inquiry into the sale of Formula 1 in 2006, but denied the payments were bribes.
Mr Gribkowsky was sentenced to eight-and-a-half years in jail in Munich.Mr Gribkowsky was sentenced to eight-and-a-half years in jail in Munich.
Speaking to the Financial Times on Wednesday, Mr Ecclestone said: "I have just spoken to my lawyers and they have received an indictment. It's being translated into English."
Asked how he responded to the indictment, he said: "We are defending it properly. It will be an interesting case. It's a pity it's happened."
Mr Ecclestone said it was "inevitable" that the indictment had been served. "If someone wants to sue you, they can do it and you have to defend it," he said.