F1 Head Indicted In Bribery Plot, Wants $650M NY Case Nixed

Law360, New York (July 17, 2013, 7:37 PM ET) -- German prosecutors indicted the head of Formula One racing Wednesday over an alleged bribery plot, the same day his attorneys told a New York state judge that a $650 million lawsuit over the scheme and the racing empire's sale to CVC Capital Partners Ltd. doesn't belong in Manhattan.

Formula One's Bernard Ecclestone has been accused of paying a $44 million bribe in 2005 to Gerhard Gribkowsky, an executive at German state-owned bank BayernLB, using cash supplied by CVC Capital and Bayern. The bribe allegedly helped ensure...
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