Former banker Gerhard Gribkowsky has admitted taking $44m in bribes from Formula 1 president Bernie Ecclestone at a trial in Germany. Mr Gribkowsky was speaking seven months after Mr Ecclestone gave testimony to the Munich court under immunity.
Mr Ecclestone said he had paid Mr Gribkowsky to avoid a UK tax inquiry into the sale of Formula 1 in 2006, but denied the payments were bribes.
Mr Gribkowsky’s admission should reduce his maximum jail term to nine years.
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