The former German banker who was at the centre of a corruption trial in relation to the sale of Formula One shares has been sentenced to 8 and 1/2 years in prison. Gerhard Gribkowsky, who was the chief risk officer at German bank Bayern LB.
Gribkowsky, was involved in the sale of of the bank's shares in Formula One to CVC, the commercial right's holder. I believe it is going to be extremely interesting to see what happens with Bernie Ecclestone as following the trial the German prosecutor said that he believed that Bernie Ecclestone was more involved in the case instead of just being a witness in the case.
During the trial, Ecclestone gave evidence and admitted that he had made payments to Gribkowsky however he said that this was due to the fact that he (Ecclestone) claimed he made the payments because he was being blackmailed.
The news that Gribkowsky has been convicted and sentenced comes just over a week before the British GrandPrix at Silverstone where Bernie Ecclestone is more then likely going to be asked by the media about the case and what it means for his involvement in the sport.
I suspect that Mr Ecclestone will try and dodge the questions that will be asked. So we will just have to watch this space.
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