Formula One Mogul Bernie Ecclestone Facing Bribery Charges

[webfact]

Bernie Ecclestone Facing Bribery Charges

BERLIN (AFP): -- Formula One mogul Bernie Ecclestone faces charges in Germany relating to a bribery case, the daily Sueddeutsche Zeitung reported Tuesday.

According to the paper, the charge sheet is still to be translated into English before being transmitted to Ecclestone and his lawyers.

Last autumn, Ecclestone said he was prepared to cooperate with public prosecutors in Germany in order to avoid prosecution after a German court had in June sentenced the former chief risk officer for state-owned bank BayernLB to eight-and-a-half years in prison for receiving tens of millions of euros (dollars) in bribes from him.

The Munich regional court found 54-year-old Gerhard Gribkowsky guilty of taking $44 million in bribes and failing to pay tax on the money.

Gribkowsky admitted receiving the money from Ecclestone in 2006 and 2007 in connection with the sale of Formula One rights to CVC, the private equity investor which owns most of the multi billion-dollar sport.

In 2002, BayernLB had acquired the rights to Formula One.

Ecclestone, who denies wrongdoing in the case, said in testimony last year that he had paid Gribkowsky because the German had threatened to blackmail him.


-- (c) Copyright AFP 2013-05-15

[Baerboxer]

Go for it Germany !! About time somebody caught up with Mr. Ecclestone.

What a defense - he bribed him because he was worried about blackmail. So what's the former CRO know that could be used to blackmail then? And why didn't he go to the German police and report the blackmail attempt?

[lee b]

Nice one Germany !!

[Suffinator]

Another one who thinks he is above the law. Mind you he's getting on and unlikely to last out an 8 years stretch - that's if he gets the same.

[Globeman]

Go for it Germany !! About time somebody caught up with Mr. Ecclestone.

What a defense - he bribed him because he was worried about blackmail. So what's the former CRO know that could be used to blackmail then? And why didn't he go to the German police and report the blackmail attempt?

It kind of makes you wonder whether Bernie's corruption goes two ways.. Was anyone else baffled by the swiftness of Thailand's F1 approval - for less than two years from now, when there is no way they can be ready.

Government figures are already drawing fanciful maps of the route to highlight tourist attractions, with little or no consideration for safety requirements (like runoffs) and the practicality of seriously overhauling the roads in question - which will need a huge amount of work to make muster. Such vested interests will bugger it up, or at least slow the developments to a crawl.

Even in Singapore, which has roads smooth as peaches for everyday driving, the repaved "track" surfaces (done properly as well), were considered rough and bumpy by the drivers. Tiny imperfections become amplified at 270km/h. Singapore took years to prepare for the first one as well, and they have a knack for meeting deadlines.

[kingstonkid]

Hang him he is the biggest pompous A$$ in sports today. He says he is GOD and directs F1 like it is his own doing.

[tingtongfarang]

I guess bernie will fit right in dealing with thailand.

[Fantastic5]

Nothing new, I can't believe there is a net individual with his capital wealth that is as clean as Jesus.

Where there is money there is corruption and worse.

[bangon04]

At least no one has come out of the woodwork to accuse him of child sex abuse in the 1970s yet.......

[wiyada]

Watch out at arrivals, this would be a good place for Bernie to retire to, he'd fit in sooooo well

[Scott]

Off-topic posts have been deleted.

[Chicog]

Hang him he is the biggest pompous A$$ in sports today. He says he is GOD and directs F1 like it is his own doing.

It is his own doing. He's the one who turned it into a massive money maker by seeing the TV opportunities before anyone else. Before he came along it was just a bunch of playboys throwing their money around.

Now he controls absolutely everything, and owns every track for the duration of the race. He provides food, drink, security, you name it. He even owns the hotel rooms in the vicinity and "sells" them to the teams.

He is one switched on cookie and you can't fault him for seeing the potential of the sport before anyone else and then nailing it down so he can do what he likes.

They even turn up with special F1 carpet for the Paddock Club for each race - then destroy it afterwards (I know because I was once trying to negotiate it "disappearing" into my lounge <heh>).

[PaddyDaddy]

The Munich regional court found 54-year-old Gerhard Gribkowsky guilty of taking $44 million in bribes and failing to pay tax on the money.

So if he had paid the tax everything would have been OK.

The German tax man was denied his pound of flesh so the sh*t hits the fan.

[finnomick1]

Sounds like he'd fit in well here then.....

[FDog]

Go for it Germany !! About time somebody caught up with Mr. Ecclestone.

What a defense - he bribed him because he was worried about blackmail. So what's the former CRO know that could be used to blackmail then? And why didn't he go to the German police and report the blackmail attempt?

It kind of makes you wonder whether Bernie's corruption goes two ways.. Was anyone else baffled by the swiftness of Thailand's F1 approval - for less than two years from now, when there is no way they can be ready.

Government figures are already drawing fanciful maps of the route to highlight tourist attractions, with little or no consideration for safety requirements (like runoffs) and the practicality of seriously overhauling the roads in question - which will need a huge amount of work to make muster. Such vested interests will bugger it up, or at least slow the developments to a crawl.

Even in Singapore, which has roads smooth as peaches for everyday driving, the repaved "track" surfaces (done properly as well), were considered rough and bumpy by the drivers. Tiny imperfections become amplified at 270km/h. Singapore took years to prepare for the first one as well, and they have a knack for meeting deadlines.

Not so sure about the roads and run offs. Adelaide had the GP for a few years and in no time Melbourne stole it and had it ready. Gold Coast also has the Indy and had it ready in no time with minimal work to the roads.

But I admit that pretty much all I know of the Indy is sitting there watching the topless babes on balconies.

Edited May 15, 2013 by FDog

[h5kaf]

Nice one Germany !!

Thailand could be in for a bit of the cake if he tries to get the F1 to BKK. He's sure to be accused by a local 'Lady' or three!!! A walking golden goose - albeit a very old and worn out one.

[h5kaf]

Hang him he is the biggest pompous A$$ in sports today. He says he is GOD and directs F1 like it is his own doing.

If you've got it flaunt it - I say. He has a tasty daughter as well who flaunts it a bit. Good luck to them both.

[belg]

but it was bribe money, was he supposed to pay tax on that , should he have know it, looooooooooooooooooooooool

but that monopolisitc bastard in jail... why towns have to pay millions to get the circus in town that everybody can see for free on the tv

only some policitians and maybe some hotels get some money from the event, the rest is for prestige on tax payers's money

[DavoTheGun]

I agree with other comments about this man, he is an arrogant pompous ars...ol, But you cannot disregard the fact that he has put F1 on the map, He is a topline promoter, and when you have as much money floating around as there is in F1 there is going to be corruption.

Olympic Games, Soccer, Cricket, Horse Racing, etc just to name a few. all corrupt in some way.

One of the very few clean successful promoters, albeit himself is Richard Branson, almost too clean!

[Bagwan]

I read that Eccleston paid bribes to keep mouths shut about stuff that H.M. Revenue & Customs would like to know i.e. his defence is that he paid bribes under duress. Please God that HMRC people are sharpening their knives. This episode in Germany may well be considered a storm in a teacup and Bernie should find out from Ken Dodd and Harry Redknapp who their legal eagles were. .

[Globeman]

Go for it Germany !! About time somebody caught up with Mr. Ecclestone.

What a defense - he bribed him because he was worried about blackmail. So what's the former CRO know that could be used to blackmail then? And why didn't he go to the German police and report the blackmail attempt?

It kind of makes you wonder whether Bernie's corruption goes two ways.. Was anyone else baffled by the swiftness of Thailand's F1 approval - for less than two years from now, when there is no way they can be ready.

Government figures are already drawing fanciful maps of the route to highlight tourist attractions, with little or no consideration for safety requirements (like runoffs) and the practicality of seriously overhauling the roads in question - which will need a huge amount of work to make muster. Such vested interests will bugger it up, or at least slow the developments to a crawl.

Even in Singapore, which has roads smooth as peaches for everyday driving, the repaved "track" surfaces (done properly as well), were considered rough and bumpy by the drivers. Tiny imperfections become amplified at 270km/h. Singapore took years to prepare for the first one as well, and they have a knack for meeting deadlines.

Not so sure about the roads and run offs. Adelaide had the GP for a few years and in no time Melbourne stole it and had it ready. Gold Coast also has the Indy and had it ready in no time with minimal work to the roads.

But I admit that pretty much all I know of the Indy is sitting there watching the topless babes on balconies.

You're talking about roads that were built with proper foundations in the first place, and contractors that know what they are doing and adhere to high standards of workmanship. Many of the roads in Rattanakosin are built on concrete lids covering canals, and others don't have the proper drainage and layers that "proper" roads have. (Check out how Roman roads were constructed and you'll see how it can be done and why some of them still exist today).

Also in Australia you wouldn't have the same countless vested interests whose sole involvement with the project is to milk it for all it's worth. (I bet Melbourne could have put together a Futsal stadium on schedule as well, which Thailand didn't manage to pull off). F1 is a top end event with everything working at very high levels.

Singapore, when they took it on, weren't shy about bringing in plenty of foreign experts for everything from road construction to logistics - something that Thailand tends to get a bit coy about, demanding "joint ventures", wherein the local and often incompetent company meddles constantly out of pride (and vested interests of course), trying to convince everyone that they are running the show, even deliberately throwing spanners into the works just to make a point. All well and good when there is no deadline. Deadlines also give rise to subcontractors holding the overseeing body to ransom, demanding more money to complete the job on time - with a huge litany of excuses as to why this is necessary.

The project is huge, and far more complicated to put together than building a big hotel, because of the time factor... and if Thailand pulls it off, I shall be shocked, stunned and not a little amazed.

[FDog]

Go for it Germany !! About time somebody caught up with Mr. Ecclestone.

What a defense - he bribed him because he was worried about blackmail. So what's the former CRO know that could be used to blackmail then? And why didn't he go to the German police and report the blackmail attempt?

It kind of makes you wonder whether Bernie's corruption goes two ways.. Was anyone else baffled by the swiftness of Thailand's F1 approval - for less than two years from now, when there is no way they can be ready.

Government figures are already drawing fanciful maps of the route to highlight tourist attractions, with little or no consideration for safety requirements (like runoffs) and the practicality of seriously overhauling the roads in question - which will need a huge amount of work to make muster. Such vested interests will bugger it up, or at least slow the developments to a crawl.

Even in Singapore, which has roads smooth as peaches for everyday driving, the repaved "track" surfaces (done properly as well), were considered rough and bumpy by the drivers. Tiny imperfections become amplified at 270km/h. Singapore took years to prepare for the first one as well, and they have a knack for meeting deadlines.

Not so sure about the roads and run offs. Adelaide had the GP for a few years and in no time Melbourne stole it and had it ready. Gold Coast also has the Indy and had it ready in no time with minimal work to the roads.

But I admit that pretty much all I know of the Indy is sitting there watching the topless babes on balconies.

You're talking about roads that were built with proper foundations in the first place, and contractors that know what they are doing and adhere to high standards of workmanship. Many of the roads in Rattanakosin are built on concrete lids covering canals, and others don't have the proper drainage and layers that "proper" roads have. (Check out how Roman roads were constructed and you'll see how it can be done and why some of them still exist today).

Also in Australia you wouldn't have the same countless vested interests whose sole involvement with the project is to milk it for all it's worth. (I bet Melbourne could have put together a Futsal stadium on schedule as well, which Thailand didn't manage to pull off). F1 is a top end event with everything working at very high levels.

Singapore, when they took it on, weren't shy about bringing in plenty of foreign experts for everything from road construction to logistics - something that Thailand tends to get a bit coy about, demanding "joint ventures", wherein the local and often incompetent company meddles constantly out of pride (and vested interests of course), trying to convince everyone that they are running the show, even deliberately throwing spanners into the works just to make a point. All well and good when there is no deadline. Deadlines also give rise to subcontractors holding the overseeing body to ransom, demanding more money to complete the job on time - with a huge litany of excuses as to why this is necessary.

The project is huge, and far more complicated to put together than building a big hotel, because of the time factor... and if Thailand pulls it off, I shall be shocked, stunned and not a little amazed.

I will not argue with someone with greater knowledge on this than myself. Unless you want to argue the topless babes on the balcony issue. lol

[Mosha]

Hang him he is the biggest pompous A$$ in sports today. He says he is GOD and directs F1 like it is his own doing.

It is his own doing. He's the one who turned it into a massive money maker by seeing the TV opportunities before anyone else. Before he came along it was just a bunch of playboys throwing their money around.

Now he controls absolutely everything, and owns every track for the duration of the race. He provides food, drink, security, you name it. He even owns the hotel rooms in the vicinity and "sells" them to the teams.

He is one switched on cookie and you can't fault him for seeing the potential of the sport before anyone else and then nailing it down so he can do what he likes.

They even turn up with special F1 carpet for the Paddock Club for each race - then destroy it afterwards (I know because I was once trying to negotiate it "disappearing" into my lounge <heh>).

Before Bernie the cars used to race. The last event, we had Hamilton saying over the radio. "I can't drive any slower."

[F430murci]

Hang him he is the biggest pompous A$$ in sports today. He says he is GOD and directs F1 like it is his own doing.

It is his own doing. He's the one who turned it into a massive money maker by seeing the TV opportunities before anyone else. Before he came along it was just a bunch of playboys throwing their money around.

Now he controls absolutely everything, and owns every track for the duration of the race. He provides food, drink, security, you name it. He even owns the hotel rooms in the vicinity and "sells" them to the teams.

He is one switched on cookie and you can't fault him for seeing the potential of the sport before anyone else and then nailing it down so he can do what he likes.

They even turn up with special F1 carpet for the Paddock Club for each race - then destroy it afterwards (I know because I was once trying to negotiate it "disappearing" into my lounge <heh>).

Before Bernie the cars used to race. The last event, we had Hamilton saying over the radio. "I can't drive any slower."

For sure. Amazing carts with amazing potential doing parade laps. Hard to watch any more as it is so boring.