Ex-BayernLB Manager Drops Appeal of Formula One Bribery Case

Former Bayerische Landesbank Chief Risk Officer Gerhard Gribkowsky and Munich prosecutors dropped appeals against his conviction for bribery, Germany’s top criminal court said.

Gribkowsky was sentenced to 8 years and six months in prison for accepting bribes to facilitate the sale of the lender’s stake in Formula One racing to CVC Capital Partners Ltd. The appeals case is now closed, the Federal Court of Justice said in an e-mailed statement today.

At his trial, Gribkowsky confessed to accepting $44 million in bribes from Formula One Chief Executive Officer Bernie Ecclestone for agreeing to the 2005 sale to CVC. Ecclestone, who has said he was blackmailed by Gribkowsky over a tax issue in the U.K., is being investigated over the issue by Munich prosecutors.

Gribkowsky’s lawyer, Rainer Bruessow, didn’t immediately respond to a phone call seeking comment.

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