Swiss 'gigolo' admits blackmail

There is a huge amount of media attention on the trial

A Swiss man has pleaded guilty of seducing several rich women in order to swindle them out of millions of dollars at a trial in Munich.

Helg Sgarbi - nicknamed by the media as the Swiss Gigolo - faces up to 10 years in prison for fraud and extortion.

His most prominent victim was Susanne Klatten, the heiress of the German car manufacturer BMW.

Mr Sgarbi told the court he deeply regretted his actions and apologised to his victims.

Prosecutors say Mrs Klatten gave Helg Sgarbi nearly $9m, but went to the police after he tried to blackmail her.

Mrs Klatten, a married business tycoon who owns a 12.5% stake in BMW, said he secretly videoed them having sex in a Munich hotel and threatened to make the tape public if he did not receive another $18m.

The reclusive Susanne Klatten may give evidence at the trial

But instead of giving away more of her fortune, the reclusive 46-year-old mother-of-three went to the police.

The BBC's Steve Rosenberg in Munich says Mr Sgarbi sat expressionless in court while the charges against him were read out.

His lawyer then told the court the accusations were basically accurate.

As he has pleaded guilty, Mr Sgarbi is expected to face a shorter sentence.

It had been thought that Mrs Klatten, who normally shies away from publicity, could have testified if Mr Sgarbi did not confess to the alleged crimes.

There is a huge amount of media attention on the trial, which is being described as one of the most remarkable and sensational in German judicial history, says our correspondent.