German police have raided workplaces of the Swiss financial institution UBS in reference to a cash laundering investigation into Uzbek-born Russian billionaire Alisher Usmanov.
UBS branches in Frankfurt and Munich have been searched on Tuesday morning, state prosecutors confirmed to the Financial Times.
“The subject of the investigation is the initial suspicion of money laundering against a businessman from the Russian Federation. The investigations are not aimed at the bank concerned or its employees,” the Frankfurt prosecutor’s workplace stated.
Speaking on situation of anonymity, German officers stated that Usmanov was the person focused by Tuesday’s raids, which have been first reported by Der Spiegel.
Usmanov, 69, is among the world’s wealthiest males, with an estimated fortune of greater than $19.5bn, earned by a enterprise empire with holdings in a few of Russia’s largest mining, industrial and telecoms corporations.
As properly as being the proprietor of the largest superyacht ever constructed, the $600mn Dilbar, his belongings embody stakes in English Premier League soccer golf equipment Arsenal and Everton. He was a former high shareholder in Apple, Facebook and Twitter.
After Russia’s invasion of Ukraine started in February, Usmanov was one of many first Russian businessmen to be hit by western sanctions, because of his shut ties to the Kremlin.
The EU described him as “one of Vladimir Putin’s favourite oligarchs”. Usmanov has launched authorized instances in Europe to problem the measures towards him. Those makes an attempt have to this point been unsuccessful, although the EU did raise sanctions towards considered one of his sisters in September.
“We categorically reject any allegations of money laundering or tax evasion on the part of Alisher Usmanov,” a spokesperson for Usmanov stated on Tuesday.
“These claims are unfounded, false and slanderous to his honour and reputation. Mr Usmanov is an honest and law-abiding taxpayer, who has paid all due taxes in Russia. He is also recognised as one of the most generous philanthropists in the world.”
UBS didn’t reply to a request for remark.
The searches on the financial institution’s Frankfurt and Munich premises comply with two raids in September — involving greater than 250 police — at properties owned by Usmanov in Bavaria.
Prosecutors on the time stated they have been a part of an investigation into the usage of advanced offshore holding corporations to disguise illicit monetary flows value tens of millions of euros.
Usmanov’s European and US belongings have been frozen for the reason that starting of the struggle because of sanctions towards him. In March, the 156 metre-long Dilbar was seized by German authorities in Hamburg, the place it was present process refurbishment.
For months Usmanov has been within the sights of a particular process drive arrange by the German authorities to probe the legality of belongings of Russian oligarchs within the nation and set off police interventions the place doable.
Usmanov additionally owns properties within the UK, together with the £48mn Beechwood House within the north London suburb of Highgate, and Sutton Place, the Tudor mansion in Surrey previously owned by billionaire industrialist J Paul Getty.
Source: www.ft.com
