UBS German Offices Searched by Prosecutors on Usmanov Links
- Searches took place at Swiss bank’s Frankfurt, Munich offices
- UBS co-operating with prosecutor; Usmanov denies wrongdoing
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UBS Group AG’s Frankfurt and Munich offices are being searched by prosecutors as part of a money laundering investigation linked to sanctioned Russian oligarch Alisher Usmanov, people familiar with the probe said.
The Swiss bank confirmed the raid and said it’s fully cooperating with authorities, while declining to comment on the reasons for the search. The Frankfurt Prosecutor’s Office said the raids are part of an investigation into alleged money laundering, without naming anyone. It stressed that no bank employees are suspects.