Bernie Ecclestone, the Formula 1 boss will be tried on bribery charges as per a rule passed by a court in Munich on 16 January 2014. He is accused of making bribe of 45 million dollar to Gerhand Gribkowsky, a German Banker who is serving a jail sentence for receiving the payment for organising the sale in 2005. He was jailed in 2012 for more than eight years for tax evasion and bribery.
As per the prosecutor, the payment was made to ensure that F1 was sold to a private equity group of the choice of Ecclestone. The payment was made between July 2006 and December 2007.
Ecclestone has admitted of payment to Gribkowsky but he has denied it as a bribe and claimed that he is a victim of blackmail. He has stepped down from the board of the company that runs the sport, Delta Topoco till the case concludes for the interest of the F1 business. He will continue to run the sport in a day-to-day basis.
About Bernie Ecclestone
• He is the chief executive of F1 and has ruled it for more than four decades
• He has been the long-time commercial rights of the sport
• In 1990s he sold the majority of the ownership of the sport
• His full name is Bernard Charles Ecclestone
• He was born in St. Peters Suffolk of Great Britain on 28 October 1930