German banker arrested over alleged $50m F1 bribe

A former bank executive has been arrested in Germany for allegedly accepting a $50m bribe in the 2006 sale of a stake in the Formula One’s rights holding company.

German banker arrested over alleged $50m F1 bribe
Wed, 05 Jan, 2011 - 16:47

A former bank executive has been arrested in Germany for allegedly accepting a $50m bribe in the 2006 sale of a stake in the Formula One’s rights holding company.

Prosecutors in Munich said in a statement the former risk manager of regional public-sector bank BayernLB was taken into custody on charges of corruption and tax fraud.

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CourtsHeathrowPlace: GermanyPlace: MunichPlace: AustriaPerson: Gerhard GribkowskyPerson: GribkowskyOrganisation: Formula OneOrganisation: BayernLBOrganisation: CVC Capital Investment
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