Bernie Ecclestone will stand trial for bribery charges - Steps down from Formula 1 board of directors

[Sticky]

Bernie Ecclestone is facing some serious heat. Enough heat that it forced him to step down from the board of directors governing Formula 1. What is he accused of? Bribery. The 83 year old Ecclestone is said to have given a $45 million dollar bribe to a German banker. That German banker is currently in jail for receiving said payment meaning something shady between him and Ecclestone definitely went down. Will Ecclestone also end up jail?

Ecclestone admits to the payment but states he was a victim of blackmail. His lawyers will likely do a great job making it seem that way but it would appear on the surface that Ecclestone paid the banker so that he could sell Formula 1 to the group of his choice. He could then specify his own value and ensure whatever control measures he wanted to make sure he retained control along with future income while cashing out. Ecclestone has a minority share but remains in control of the sport even after stepping down from the board which certainly is interesting.

Delta Topco is the company that currently holds the Formula 1 commercial rights which is itself made up of investment companies. Basically, a bunch of rich people run the show with everyone involved getting their piece of the pie and Ecclestone seems to have manipulated who gets the slices and what size of slice in a manner that benefits him. Not really all that surprising should it be true but it is a question of whether he went about his business illegally.

No trial date is yet set. It certainly is going to be interesting to see what happens.

Source

[BlackJetE90OC]

How much longer does he have anyway...he is 83.

[Sticky]

How much longer does he have anyway...he is 83.

Enough time to make more billions and affect the money flow of who knows how many other people. I mean people won't be crying for him if he goes to jail but it would have large ramifications.

[2swoosh]

he is a modern mafia and if found guilty should go to jail. The power of money.

[Sticky]

he is a modern mafia and if found guilty should go to jail. The power of money.

He'll get some slap on the wrist or a fine.