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German prosecutors say they will drop investigation of Russian oligarchs Alisher Usmanova close ally of the president Vladimir PutinHe may have violated sanctions and money laundering rules after he agreed to pay a 10 million euro ($11.8 million) fine.
The Uzbekistan-born Russian billionaire and metals magnate, who was re-elected as president of the International Fencing Federation last year, has been facing European Union Sanctions imposed after full-scale Russian invasion Ukraine 2022.
this Munich The prosecutor’s office said on Tuesday that the investigation against Usmanov would be dropped after receiving the fine. Three years ago, the Usmanov investigation prompted police to raid dozens of properties in Germany linked to Usmanov.
Some funds and assets linked to Usmanov have been frozen under EU sanctions.
Prosecutors said Usmanov allegedly transferred about 1.5 million euros through foreign companies in the months after the sanctions were imposed to manage two properties in the lakeside town of Rota-Egen south of Munich.
He also allegedly failed to declare valuables such as jewelry, paintings and wine to authorities. Usmanov’s defense team has challenged allegations about his ties to companies and valuables, as well as the applicability of EU law in the case.
Prosecutors said that under German criminal law, an investigation can be stopped upon payment of a fine.