Russian Businessman Usmanov Paid 4 Million Euros to Conclude German Criminal Investigation – BNN Bloomberg

(Bloomberg) — Sanctioned Russian billionaire Alisher Usmanov paid 4 million euros ($4.4 million) to settle a money laundering investigation by German prosecutors.

Frankfurt prosecutors said on Monday that the criminal investigation would be dropped after Usmanov paid 2.5 million euros to the government and 1.5 million euros to charities. They said the alleged actions did not cause financial harm to anyone in Germany and occurred a long time ago.

His lawyers, Uwe Lehmbruck and Markus Gotzens, said their client had always maintained his innocence and did not admit any guilt under the agreement.

“The length of this investigation – almost two and a half years – suggests that law enforcement has had ample time to confirm that there are no grounds for suspicion against him,” they said in a joint statement.

Usmanov is among several Russians sanctioned after Vladimir Putin’s decision to invade Ukraine. Usmanov founded USM, a Russia-based investment group that controls Russia’s largest iron ore producer, Metalloinvest.

In addition to his Russian citizenship, he is also an honorary citizen of his birthplace, Uzbekistan. Bloomberg’s Billionaires index estimates his fortune at about $14.4 billion.

As part of the case, prosecutors raided the Frankfurt and Munich offices of UBS Group AG two years ago. Usmanov later won decisions of German courts declaring searches and seizures of documents illegal.

The Russian later sued the bank over anti-money laundering reports that he claimed triggered a criminal investigation.

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