F1 boss Bernie Ecclestone has been indicted on a charge of bribery by a German court. The charge concerns his alleged role in a bribery scheme dating back to the 2005 sale of a stake in Formula One held by German bank Bayern Landesbank to private equity firm CVC Capital Partners.
Back in 2006 German banker, Gerhard Gribkowsky, who was in charge of the bank’s sale of the F1 stake, was sentenced to eight-and-a-half years in jail in Munich after he admitted that prosecution claims stating he had corruptly received £26.6 million in bank commissions, and a large payment via a family trust from Mr Ecclestone, were “essentially true”. If he is found guilty, Mr Ecclestone faces a possible jail term.
If you are responsible for your company policies, this set of policies and forms have been designed to aid compliance with the Bribery Act 2010.