German Court Drops Charges Against Formula One Chief for $100 Million Payment

MUNICH (AP) — A German court has dropped the bribery case against Bernie Ecclestone in exchange for a $100 million payment from the Formula One chief.

Judge Peter Noll told the Munich state court Tuesday that Ecclestone's trial was finished, news agency dpa reported. He had faced charges of bribery and incitement to breach of trust.

The charges involved a $44 million payment to banker Gerhard Gribkowsky, who is serving an 8 1/2-year sentence for taking the money and was convicted of offenses including tax evasion.

The 83-year-old Ecclestone denied wrongdoing and said Gribkowsky blackmailed him.

Ecclestone's lawyers last week called for proceedings to be dropped. The agreed on a $100 million payment in talks with prosecutors.