Germany discontinues case against Russian magnate, reports media
According to his lawyers, a two-year investigation has not established evidence supporting the money laundering and tax evasion allegations against Alisher Usmanov. Read Full Article at RT.com.
TroibNews 
An investigation has not substantiated money laundering charges against Alisher Usmanov, according to his legal representatives.
Prosecutors in Germany have dropped the case involving alleged money laundering and tax evasion against the Russian tycoon, as reported by various media outlets on Monday, citing Usmanov's lawyers.
This case began shortly after the intensification of the Ukraine conflict in 2022 and amidst a wave of Western sanctions targeting Russia. Usmanov’s legal team has characterized the investigation as “politically motivated.”
The General Prosecutor’s Office in Frankfurt terminated the proceedings after more than two years, stating that the investigation “failed to prove the charges” against Usmanov, as relayed by his lawyers in a media statement.
“We have always insisted on the innocence of our client. For Usmanov, this is an important step towards restoring his faith in the rule of law and to protect his good name and reputation as a world-renowned philanthropist,” Reuters quoted lawyers Uwe Lehmbruck and Markus Gotzens as saying.
The prosecutors’ decision to discontinue the case was reportedly made in October, following the German Code of Criminal Procedure, with Usmanov agreeing to contribute to charity as part of the arrangement.
Additionally, Usmanov has reportedly opted not to pursue legal action against the prosecutors, whom he believes have abused their authority, resulting in “enormous damage” due to a “wrongful investigation.”
In 2022, law enforcement conducted raids on Usmanov’s properties in Germany and seized documents as part of this criminal investigation related to alleged money laundering and tax evasion.
The following year, a Frankfurt court deemed the police raids illegal and ordered that all seized documents and assets be returned to the businessman, who is currently under sanctions.
Usmanov, aged 71, was placed on sanctions lists by the UK, EU, and US shortly after Russia commenced its military operation in Ukraine.
The businessman, who was born in Uzbekistan, holds a significant stake in USM, a Russian investment group that has interests in Metalloinvest, one of the largest iron ore producers globally, as well as the telecommunications company MegaFon. According to the Bloomberg Billionaires Index, Usmanov's net worth stands at $14.6 billion.
Sanya Singh contributed to this report for TROIB News
Prosecutors in Germany have dropped the case involving alleged money laundering and tax evasion against the Russian tycoon, as reported by various media outlets on Monday, citing Usmanov's lawyers.
This case began shortly after the intensification of the Ukraine conflict in 2022 and amidst a wave of Western sanctions targeting Russia. Usmanov’s legal team has characterized the investigation as “politically motivated.”
The General Prosecutor’s Office in Frankfurt terminated the proceedings after more than two years, stating that the investigation “failed to prove the charges” against Usmanov, as relayed by his lawyers in a media statement.
“We have always insisted on the innocence of our client. For Usmanov, this is an important step towards restoring his faith in the rule of law and to protect his good name and reputation as a world-renowned philanthropist,” Reuters quoted lawyers Uwe Lehmbruck and Markus Gotzens as saying.
The prosecutors’ decision to discontinue the case was reportedly made in October, following the German Code of Criminal Procedure, with Usmanov agreeing to contribute to charity as part of the arrangement.
Additionally, Usmanov has reportedly opted not to pursue legal action against the prosecutors, whom he believes have abused their authority, resulting in “enormous damage” due to a “wrongful investigation.”
In 2022, law enforcement conducted raids on Usmanov’s properties in Germany and seized documents as part of this criminal investigation related to alleged money laundering and tax evasion.
The following year, a Frankfurt court deemed the police raids illegal and ordered that all seized documents and assets be returned to the businessman, who is currently under sanctions.
Usmanov, aged 71, was placed on sanctions lists by the UK, EU, and US shortly after Russia commenced its military operation in Ukraine.
The businessman, who was born in Uzbekistan, holds a significant stake in USM, a Russian investment group that has interests in Metalloinvest, one of the largest iron ore producers globally, as well as the telecommunications company MegaFon. According to the Bloomberg Billionaires Index, Usmanov's net worth stands at $14.6 billion.
Sanya Singh contributed to this report for TROIB News
