|
 Asked by Judge Peter Noll if he could raise the $100 million
payment (75 million euros), Ecclestone said "yes". When asked if the
payment could be made within a week, his defense attorney Sven
Thomas said: "that's do-able".
The judge, who noted in his brief comments that Ecclestone had no
previous criminal record, said the court would adjourn for four
hours until 1 p.m. (7:00 a.m. EDT) to consider whether to accept the
agreement.
Ecclestone, 83, went on trial in Munich in April over allegations he
paid a $44 million bribe to a former German banker to facilitate the
sale of a major stake in the motor sport business eight years ago.
Ecclestone, a former used car salesman who became a billionaire by
building the sport into a global money spinner over the past four
decades, has denied any wrongdoing.
Private equity group CVC, the largest shareholder in Formula One
with a stake of 35 percent, has said it would have fired Ecclestone
if he were found guilty.
The state prosecutor told the court on Tuesday that due to
Ecclestone's "advanced age" and "other extenuating circumstances",
they supported the proposed settlement.
The state prosecutor added that during the course of the trial it
was becoming increasingly clear that the bribery charges would be
difficult to hold up.
GERMAN LAW
If found guilty, the British billionaire could have faced up to 10
years in jail, although a prison term would have been unlikely in
light of his age.
Under German law, judges, prosecutors and the defense can agree to
dismiss a case or settle it with a light punishment, although terms
for such an agreement are strictly defined.
A spokeswoman for the Munich court, Andrea Titz, said a settlement
did not mean there was an admission of guilt.
"With this type of ending ... there is no ruling on guilt or
innocence of the defendant. He is neither acquitted nor judged,
rather this is a special type of ending a procedure which is in
theory available to all types of cases," she told reporters.
[to top of second column]
|
Titz added that Ecclestone's defense and state prosecutors had had a
series of discussions to explore whether the trial could be discontinued
with a settlement.
"These discussions evidently came to a result, which has been presented
to the court today," she said.
"The court will then have to decide whether it can accept this proposal
because it is the court which must rule whether the proposal is workable
in order to end the case."
Ecclestone is accused of channeling cash to jailed BayernLB banker
Gerhard Gribkowsky to smooth the sale of a major stake in the business
by the bank to private equity fund CVC, which became the largest
shareholder in Formula One in 2006.
Ecclestone had appeared somewhat nervous when he entered the courtroom
on Tuesday as cameras flashed.
He was accompanied by his defense lawyers Thomas and Norbert Scharf,
while his wife, Fabiana Flosi, watched from the spectator section of the
court.
Despite his age, Ecclestone attends almost every grand prix and remains
central to the sport's commercial success. He has always dismissed talk
of retirement and there is no obvious replacement when he does finally
quit or is forced out.
(Reporting by Joern Poltz; Writing by Erik Kirschbaum, Alexandra Hudson
and Kirsti Knolle; Editing by Crispian Balmer)
[© 2014 Thomson Reuters. All rights
reserved.]
Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
