Munich  - Ulrich Schumacher, formerly chief executive of one of Germany's top companies, denied on the first day of his corruption trial Monday that he had ever accepted a bribe.

Schumacher formerly ran Infineon, a major manufacturer of semiconductor chips. He is accused of accepting large sums of "sponsorship" money from 2000 to 2003 to drive in privately arranged motoring racing events.

"I have never been and am not amenable to bribes," Schumacher, 51, told the state court in Munich.

He was charged with eight counts each of corruption in business dealings and tax evasion as well as a single count each of misappropriation and attempted fraud.

In an speech to the court, he said his "most stupid mistake" had been to mix his hobby of racing with his duties as an executive.

Prosecutors say his racing was funded by a former friend, Udo Schneider, who was sentenced in 2006 to four years in prison for corruption. But Schumacher denied receiving the large payments, and accused Schneider of lying.

"I never accepted bribes, nor did I ask for them," the defendant said.

Schumacher was once seen as a star German executive. He attracted attention to Infineon's initial public offering in 2000 by driving a racing car down Wall Street in New York.

He left the company five years ago and now runs Chinese-owned Grace Semiconductor.

The court expects the trial to continue into next year.  dpa