Saturday, April 16, 2011

Ecclestone quizzed by German prosecutor

Bernie Ecclestone has met a state prosecutor in Germany investigating alleged payments of $50 million to a German banker during the sale of Formula One's commercial rights five years ago.

"I've been cooperating with the state prosecution office's investigation of the affairs of Dr Gribkowsky since the outset," Ecclestone told Reuters. "When I was informed that there was a first suspicion in relation to my perceived involvement in the matter, I went to see the senior state prosecutor and her team in Munich earlier this month to clear up any allegations against me."

Ecclestone said he would continue to cooperate fully "in whatever capacity it may ask … I am confident that when the full facts have been established, I will be exonerated of blame for any wrongdoing."

In January, Gribkowsky was accused of selling a 48% stake in F1 without proper valuations and receiving the payments disguised as consultancy agreements.

Ecclestone himself has not been accused of having any connection with the payments, and has publicly denied involvement and insisted he did not bribe Gribkowsky.

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