Latest topics
» Current Alien Encounters. The Richard Dolan Show with Chris Deperno.
German bank goes after Bernie Ecclestone EmptyToday at 12:42 pm by PurpleSkyz

» Strange magnetic stones found on the shores of lake Ontario
German bank goes after Bernie Ecclestone EmptyToday at 12:41 pm by PurpleSkyz

» Arizona Declares State of Emergency as They Are OVERWHELMED by Influx of Migrants
German bank goes after Bernie Ecclestone EmptyToday at 12:08 pm by Consciousness Of Economic

» 3,000 images that make you go hmmm
German bank goes after Bernie Ecclestone EmptyToday at 12:07 pm by Consciousness Of Economic

» How to change opinion about UK colonialism within 10 minutes
German bank goes after Bernie Ecclestone EmptyToday at 12:06 pm by Consciousness Of Economic

» Let's Take A Look At Our Economy, Then Tell Me How It Could Possibly Be Booming
German bank goes after Bernie Ecclestone EmptyToday at 12:05 pm by Consciousness Of Economic

» Satan Rules The Sky At Sunset-Mass Aerosolized Coal Fly Ash/Carbon Black Dust Spraying
German bank goes after Bernie Ecclestone EmptyToday at 12:03 pm by Consciousness Of Economic

» Kanye West's Easter Sunday Coachella performance, April 21, 2019, and his foretold fate
German bank goes after Bernie Ecclestone EmptyToday at 12:02 pm by Consciousness Of Economic

» HOW THE BRITISH EMPIRE BRAINWASHED US
German bank goes after Bernie Ecclestone EmptyToday at 12:01 pm by Consciousness Of Economic

» Comedian Wins Ukrainian Presidency: U.S Media Establishment Furious!!!
German bank goes after Bernie Ecclestone EmptyToday at 12:00 pm by Consciousness Of Economic

» Touring Tartaria | UAP
German bank goes after Bernie Ecclestone EmptyToday at 11:58 am by Consciousness Of Economic

» Fukushima news; Pacific Chinook Salmon Historic Collapse Dying In the OCEAN, 600 FOR THE YR.
German bank goes after Bernie Ecclestone EmptyToday at 11:57 am by Consciousness Of Economic

» Robert F. Kennedy Jr Explains How Big Pharma Completely Owns Congress
German bank goes after Bernie Ecclestone EmptyToday at 11:55 am by Consciousness Of Economic

» 16-DAY FORECAST HAVE A PLAN #WEATHERWARFARE LIVE!! #ANALYSIS
German bank goes after Bernie Ecclestone EmptyToday at 11:54 am by Consciousness Of Economic

» We Have Alien Technology, and it Looks Like We've Had It For Decades!
German bank goes after Bernie Ecclestone EmptyYesterday at 6:43 pm by PurpleSkyz

» The GoldFish Report No. 354 - Week 118 POTUS Report: Earth Day- A Republic In Peril- SpyGate
German bank goes after Bernie Ecclestone EmptyYesterday at 6:31 pm by PurpleSkyz

» Can You Take Big Pharma Prescription Drugs with Cannabis?
German bank goes after Bernie Ecclestone EmptyYesterday at 6:24 pm by PurpleSkyz

» Wild Bee Population Collapses By 90% In New England, Study Warns
German bank goes after Bernie Ecclestone EmptyYesterday at 5:31 pm by PurpleSkyz

» Arrests at London climate-change protests top 1,000
German bank goes after Bernie Ecclestone EmptyYesterday at 5:27 pm by PurpleSkyz

» Benjamin Fulford 4-22-19… “China poised to seize Daimler Benz blablabablabla
German bank goes after Bernie Ecclestone EmptyYesterday at 2:04 pm by ANENRO

» 5G - Culling The Population - David Icke
German bank goes after Bernie Ecclestone EmptyYesterday at 1:46 pm by PurpleSkyz

» Brave Judge Reveals Obama's Criminal Role In Clinton Email Scandal
German bank goes after Bernie Ecclestone EmptyYesterday at 1:45 pm by PurpleSkyz



CLICK THE SUBSCRIBE BUTTON BELOW
TO RECEIVE OUR DAILY NEWSLETTER

A 2ND EMAIL COMPLETES THE ACTIVATION PROCESS





CLICK THE PURPLE BUTTON TO VIEW OUR LATEST POSTS









ONLY NATURES MAGIC


ONLY NATURES MAGIC
Featuring Homemade Herbal Salves Made in the Ozarks
https://onlynaturesmagic.com

You are not connected. Please login or register

Out Of Mind » THE INSANITY OF REALITY » CABAL AGENDA & WORLD DOMINATION » German bank goes after Bernie Ecclestone

German bank goes after Bernie Ecclestone

Go down  Message [Page 1 of 1]

1German bank goes after Bernie Ecclestone Empty German bank goes after Bernie Ecclestone on Sat Oct 27, 2012 9:15 pm

PurpleSkyz

PurpleSkyz
Admin
German bank goes after Bernie Ecclestone





Posted by nesaraaustralia ⋅ October 28, 2012 ⋅ Leave a Comment




Filed Under bernie ecclestone, german prosecutors, getty images, private equity firm


Formula One boss, Bernie Ecclestone, has been asked to hand
hundreds of millions of pounds in damages to a German bank that claims
it was duped over the sale of the motor racing series.







German bank goes after Bernie Ecclestone Bernie-ecclestone_2373464b

Bernie Ecclestone, who is being pursued by German bank BayernLB for
payments made to him duringt he 2006 sale of Formula One to CVC Photo:
GETTY IMAGES









By Helia Ebrahimi, Senior City Correspondent


8:02PM BST 25 Oct 2012



In the latest twist in the scandal regarding Formula One’s 2006 sale
to private equity, Germany’s BayernLB has written “a letter of demand”
to Mr Ecclestone asking him to pay back millions in alleged illegal
payments and lost earnings to the bank.



BayernLB has demanded Mr Ecclestone pay back $41.4m (£25.7m) in
alleged payments made to facilitate the sale – as well as up to $350m,
which the bank claims was shaved off F1’s price tag in a sweetheart deal
cooked up by a former banker in cahoots with the motor racing supremo.



In June, Gerhard Gribkowsky – the banker who had been Bayern’s chief
risk officer – was sentenced to eight years in jail for tax evasion and
receiving the alleged bribes from Mr Ecclestone.



German prosecutors allege that Mr Gribkowsky was bribed so that he
would wave through the sale of F1 to private equity firm CVC for a
knock-down price.



Mr Gribkowsky secretly received $44m from Mr Ecclestone, which at the trial he claimed was a bribe.



Mr Ecclestone admits the payment was made — £8m from his own account
and the rest by his offshore family trust, Bambino, but he denies the
payment was a bribe. Instead, he claims, the money was paid to Mr
Gribkowsky in a “shakedown” to stop him reporting false allegations of
tax evasion to UK authorities.

In addition to the $44m payment to Mr Gribkowsky from Mr Ecclestone,
it was also found that Mr Gribkowsky paid Mr Ecclestone an extra
kickback worth $41.4m from the accounts of BayernLB.

The payment was made in return for a financial guarantee offered by Mr Ecclestone that F1’s financial books were sound.

In his court testimony Mr Gribkowsky admitted that Mr Ecclestone did
not need to be paid the “commission” by Bayern. “It was a bribe and …. I
should have said no to his demands,” he said at the time.

Mr Ecclestone denies there was any wrong in being paid the
commission. He also insists that the price agreed for the sale of the F1
stake was fair.

The German bank chose to pursue Mr Ecclestone for financial damages
after gaining access to prosecution files from Mr Gribkowsky’s trial.
“This is just step one,” said one insider.

The state-backed lender inherited its ownership of the racing series
in 2002 after the Kirch media empire fell apart, leaving the bank with a
47.2pc stake.

Four years later, Mr Gribkowsky negotiated the sale of the bank’s stake to private equity firm CVC.

SOURCE here.


Thanks to: http://nesaraaustralia.com



  

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum