Formula One boss Bernie Ecclestone may find himself in legal trouble in Germany over allegations that he bribed a bank official $50 million. According to Yahoo Sports' European arm, prosecutors are currently gathering evidence against the F1 honcho.

The would-be charges center around the deal that led CVC Capital Partners to own F1. The courts say that Gerhard Gribkowsky, who worked with CVC Capital Partners, deposited $50 million into an Austrian account in order to avoid paying taxes on the funds. Prosecutors are currently trying to tie Eccelstone, who is currently employed by CVC as the head of F1, to that money.

Not surprisingly, Eccelstone is denying the accusations, saying that he's done everything in his power to work with investigators on the matter, but that as far as he knows, there are no problems. Gribkowsky, meanwhile, is currently being held in jail on charges of tax evasion, corruption and fraud.

I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.

    • 1 Second Ago
  • From Our Partners

    You May Like
    Links by Zergnet
    Cars for Sale Near You

    Share This Photo X