Formula One boss Ecclestone indicted in bribery case

Reuters, Wednesday 17 Jul 2013

Ecclestone is charged with bribery and breach of trust

Bernie Ecclestone
Bernie Ecclestone (Photo: Reuters)

Formula One Chief Executive Bernie Ecclestone has been indicted in Germany in a case relating to the sale of a stake in the motor racing business eight years ago, a spokesman for a Munich court said.

The spokesman said on Wednesday that the indictment has been sent out, charging Ecclestone with bribery and breach of trust.

 Ecclestone, who is 82 and has built Formula One into a global money-spinning business, is accused of bribing a German banker to ensure that BayernLB sold the 48 percent stake to private equity firm CVC. He has denied the allegations.

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