F1 buyout: Gribkowsky sentenced to eight years
Former BayernLB banker Gerhard Gribkowsky has been sentenced to eight years and six months in prison following his trial for corruption, breach of trust and tax evasion.
Last week, Gribkowsky admitted taking bribes amounting to $44m from F1 chief executive Bernie Ecclestone during the sale of the company to CVC Capital Partners in 2006. He was arrested 18 months ago.
The trial draws to a close just weeks after CVC decided to postpone the IPO of F1 on the Singapore Stock Exchage due to market volatility.
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