Prosecutors charge banker in F1 sale

Updated: July 19, 2011, 1:15 PM ET
Associated Press

FRANKFURT, Germany -- Prosecutors in Munich have charged a former executive at a German bank for allegedly taking bribes from Formula One CEO Bernard Ecclestone in connection with the 2006 sale of the bank's stake in Formula One.

Gerhard Gribkowsky, a former member of the management board at the regional bank BayernLB, was in charge of managing the sale of BayernLB's stake to private equity firm CVC Capital Partners.

Prosecutors have said Gribkowsky sold the stake without updating ...

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