Formula one boss in bribe scandal

Chief Executive Officer Bernie Ecclestone attacked prosecutors' case on the first day of his Munich bribery trial as the 83-year-old fights to keep control of the motor-racing series.

Ecclestone's lawyers read a statement that refuted allegations that he paid a $44 million bribe to ensure that he kept his role as head of the racing series before a sale of a majority stake. Gerhard Gribkowsky, the man who received the alleged bribe and prosecutors' main witness, lied repeatedly about the events, Ecclestone said.

"The accusations are based on statements by Dr. Gribkowsky that are incorrect, misleading and incoherent," his lawyers said in a written statement to the press. "They do not take account of the real course of events in 2005 and 2006 regarding Formula One and the life of Mr. Ecclestone."

The corruption scandal has plagued Ecclestone since Gribkowsky was first arrested three years ago. The former chief risk officer of Bayerisches Landesbank was convicted in 2012 of accepting bribes and sentenced to 8 1/2 years in prison.

Gribkowsky, who managed the lender's interest in Formula One, said in his own court case in 2012 he was paid $44 million to steer the sale of the bank's 47 percent stake in the racing circuit to CVC Capital Partners Ltd., a U.K.-based buyout firm, and agreed to a sham contract under whichEcclestone received a kickback