German Banker Drops Appeal Of Formula 1 Bribery Sentence

Law360, New York (May 10, 2013, 1:14 PM EDT) -- A German banker sentenced to eight-and-a-half years in prison for accepting a $44 million bribe in connection with private equity firm CVC Capital Partners Ltd.’s acquisition of a controlling interest in Formula One racing reportedly dropped his appeal of his sentence on Friday.

Germany’s Federal Court of Justice said that former BayernLB executive Gerhard Gribkowsky and prosecutors have both withdrawn appeals they filed regarding the sentence, but didn’t say what prompted the moves, according to the Associated Press.

Gribkowsky is also the focus of litigation in...
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