Bernie Ecclestone Has Made $100m Payment in Bribery Case: German Court

Updated: 15 August 2014 14:45 IST

Formula One supremo Bernie Ecclestone faced charges of bribery and incitement to breach of trust over a payment to a German banker in charge of selling a stake in F1 in 2005. Ecclestone denied wrongdoing.

Bernie Ecclestone Has Made $100m Payment in Bribery Case: German Court
Formula One Chief Executive Bernie Ecclestone signs an autograph after leaving the courtroom at the regional court in Munich, southern Germany, on August 5, 2014. © AFP

Munich:

A German court says Bernie Ecclestone has made the $100 million payment he agreed to last week, meaning the bribery case against the Formula One boss is formally closed.

The Munich state court on August 5 approved an agreement between Ecclestone's lawyers and prosecutors to end the trial. It gave the 83-year-old Englishman a week to pay the money - $99 million of which goes to the state and the remaining $1 million to a German organization that helps terminally ill children.

The court said on Wednesday that the payment was made on time.

Ecclestone faced charges of bribery and incitement to breach of trust over a payment to a German banker in charge of selling a stake in F1 in 2005. Ecclestone denied wrongdoing.

Topics : Federation Internationale de l'Automobile Formula 1
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