Ecclestone pays $100m to escape jail term

  • Wednesday 6th August, 2014 8:24am
  • Author: SpeedCafe ©
Bernie Ecclestone 344x224 Ecclestone pays $100m to escape jail term

Bernie Ecclestone escapes jail term by paying $100m to a Munich court

Formula 1 czar Bernie Ecclestone has avoided a jail term with a German court ending his bribery trial by accepting a $100m payment.

A loophole in the law has allowed F1’s commercial giant to walk free from a Munich court.

The 83-year-old, who has an estimated personal wealth of $4.2 billion pounds, had faced accusations that he paid off German banker Gerhard Gribkowsky almost $50m.

The bribe centred around favouring a company that would buy a stake in in the sport so that Ecclestone could remain at the commercial helm.

Gribkowsky was sentenced to eight and a half years in jail in 2012 for accepting bribes.

Ecclestone countered that the payment to Gribkowsky had been made after the BayernLB banker allegedly threatened to blackmail him by making false claims about the F1 ringmaster’s tax status.

The court ordered that $99m of Ecclestone’s penalty goes directly to the Bavarian government and the remaining $1million to a children’s hospital.

The loophole in the law essentially allows defendants to buy their way out of jail in certain circumstances in Germany.

  • Tim Noske

    Only bernie could pay his way out of bribery charges and think thats OK…….

  • Peter Browning

    So that would be 2 bribes??

  • Peter Aaron

    You have to admit, it is pretty funny tho, even funnier is, he will probably get away with it!

  • KBBuderim

    Wow so money does talk lol

  • Brad Child

    This certainly this doesn’t make things right! Surely his actions were not in the best intersts of the sport. It’s time this wort was cut off from the foot of the body which is F1.

  • http://www.goodpublicity.com.au/ Good Publicity

    What a farce. The government got the lion’s share of the ‘penalty’, a hospital got a few crumbs, and the defendant got off with a wrist-slap! There’s little doubt that the verdict would have been very different if it had been resolved by a jury.

    Politicians and lawyers have only themselves to blame for the public’s suspicion that the legal and political systems are corrupt.

  • smee

    And now the cost of admission to an event will increase so Bernie gets his money back.

  • StuM91

    So…. He bribed his way out of a bribery charge?

  • Paul Higgins

    This is provided for in German law and is not a ‘loophole’ as stated. From what I have read elsewhere it is commonly used. He didn’t buy his way out of prison as the court accepted the payment as it felt a guilty finding was unlikely.

  • OzyDave

    Accepting a bribe gets you years in jail. Making a bribe gets you a fine. I hope the Australian GP organisers are clean.

  • Vince

    And the guy that allegedly took the bribe is in the slammer, good one Bernie!

  • Vince

    And that’s only the two we know about! And 99% of it goes to the government, and 1% to something worthwhile. What about the other way around, the government are as bad as Bernie!

  • Vince

    Sounds like he’s already got away with it!

  • Sam

    Yep money talks and Bernie has truck full’s!

  • Tony Abbotts No1 Fan

    What a vile little man he is….wealthy, but vile.

  • Daz

    Why does it go to the Government? He didnt rip the government off did he??? I thought he screwed BayernLB out of millions when he allegedly had a friend smooth the way for CVC… Seeing as he screwed BayernLB, shouldnt they be getting the money? Or is this a fine and they now have the opportunity to go after damages???

  • Daz

    You kinda need a lot of it though for its voice to be heard.

  • Lee

    Yep, Bernie bribed his way out of bribery charges. Cost him a lot though, even for him. And the world wonders about justice in most countries! The FIA though should cut him off cold,, but will not ofcourse.

  • David Watt

    It makes no sence sending an 83 year old man to jail .This way everybody wins .The state gets $99 million instead of paying to keep someone in jail.The the children’s hospital gets
    A million dollars. With a not guilty verdict Mr Eclestone keeps his Job. He did not mug an old lady to buy drugs, he did not molest children. This case was about money , what better
    Way to resolve it then than with money.

  • http://webwizz.com.au Web Wizz

    Justice is what you get when you run out of money!

  • Bill Keesing

    So the banker serves time while a rich, scumbag used car salesmnan gets off. What bullshit!

  • David Watt

    I wouldn’t want to test that in court !!! :-))

  • Aarrgghh

    A classic example of “There’s one law for the rich and another law for the poor”

  • Wizz kid

    I think we all forget f1 was a big o till bernie came along had the balls to have a go and give us all what we
    Have to day leave. Him alone he is a old man all big deals are like this

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