German officials searched UBS bank branches in Frankfurt and Munich as part of an investigation into suspected money laundering by Russian oligarch Alisher Usmanov
The suspected money laundering is in the scale of double digit million euros, a spokesman for the Frankfurt prosecutors' office said on Tuesday. The spokesman said the searches were at banks with accounts connected to Usmanov.
"The businessman is a law-abiding and conscientious taxpayer who has paid taxes in Russia," the spokesperson said. The spokesperson declined to comment on whether the searches were related to Usmanov. "The investigations are not directed against the banking institution concerned or its employees. The search measures are taking place in the same preliminary proceedings in which searches have already been carried out at the defendant's residence in the district of Miesbach and at his yacht."
The accused is suspected of arranging several transactions in the years 2017 to 2022 in order to disguise their origin, the prosecutors' office said.
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