Formula One CEO Bernie Ecclestone to pay $100 million to end bribery trial

By Leighton Schneider ,

Formula One CEO Bernie Ecclestone will pay $100 million to end a bribery trial against him.

According to The Guardian, in Germany, defendants can settle some criminal cases with punishments like fines. The amount a person has to pay changes by depending on their income and financial situation.

Ecclestone was on trial after a German banker said he was paid $44 million to make a sale involving an important stake in the sports business, according to Reuters.

Judge Peter Noll told Ecclestone he had one week to pay his fine, $99 million going to the state and the extra $1 million going to a children’s charity. He also told him that if he does not pay the fine in the time allotted the trial will continue.

If Ecclestone was found to guilty, he could have been put in jail for up to 10 years.

Andrea Titz, as spokeswoman for the court, said that even though Ecclestone will pay the fine, it does not mean he was guilty.

“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.”

image courtesy of INFphoto.com



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