Lawyers acting for Formula One chief executive Bernie Ecclestone denied allegations that their client bribed a German banker in connection with the sale of the motor sport to investors in 2005-2006. The comments came after German newspaper Sueddeutsche Zeitung reported on May 15, 2013, that local prosecutors had charged him with bribery and inciting others to a fiduciary breach of trust.
Ecclestone’s lawyers from German law firm Thomas Deckers Wehnert Elsner remarked that they have yet to receive the documents containing the charges from the Munich prosecutor's office. The law firm reiterated its view that Ecclestone has neither “committed bribery nor played any part in committing a fiduciary breach of trust." The Munich prosecutor's office disclosed Monday, May 13, 2013, that it had wrapped up its probe against the Formula One supremo
. In an interview with German daily Bild-Zeitung, Ecclestone said he would not resign as the head of Formula One, adding that only shareholders have the right to make the decision. He told Bild that once his contract with Formula One expires, shareholders can replace him if they want. Ecclestone also reiterated his innocence on the matter, adding the “truth will prevail in the end."