German probe into Usmanov closed after settlement
German prosecutors have closed their investigation into alleged foreign trade law violations by Russian-Uzbek billionaire Alisher Usmanov, his lawyers announced Tuesday.
The probe examined a €1.5 million ($1.8 million) payment for security at two homes in Bavaria’s Rottach-Egern between April and September 2022, as well as claims that Usmanov failed to declare jewellery, paintings, and wines to Germany’s export control office (BAFA) under EU sanctions. Usmanov has denied any wrongdoing, News.Az reports, citing Reuters.
Lawyers stated that Usmanov had no ties to the companies involved in the payments and did not own or control the properties, noting that EU sanctions were not directly applicable to the investigation. Prosecutors reportedly agreed to close the case to conserve time and resources.
As part of the resolution, Usmanov will pay €10 million to be split between the German state and local charities. His legal team emphasized that the payment is not a fine or punishment. In November 2024, German authorities dropped a similar money laundering investigation against Usmanov under comparable terms.
Usmanov, founder of USM Holdings, has an estimated net worth of $18.8 billion and remains subject to EU and U.S. sanctions and a travel ban following the conflict in Ukraine.
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