Latest News

: UBS offices in Germany raided, allegedly over ties to Russian oligarch


Officials in Germany on Tuesday searched the Munich and Frankfurt offices of Swiss banking giant UBS Group AG, a move that some media reports said was linked to ties with a Russian oligarch.

The Swiss bank

confirmed the searches of those branches to MarketWatch, but declined to give further details. Reuters cited a spokesperson for the prosecution’s office, who said they were tied to suspicions of money laundering.

German news weekly Der Spiegel first reported the office searches, which it claimed was connected to Russian billionaire Alisher Usmanov and more than 2 million euros ($2 million) worth of transactions between 2018 and 2020.

A spokesman for Usmanov denied to Bloomberg and Reuters any links between the oligarch and money laundering, saying they were unfounded, false and defamatory. Usmanov, a major stakeholder in iron ore and steel giant Metalloinvest, was hit with sanctions from the U.S., U.K. and Europe following Russia’s invasion of Ukraine earlier this year.

The Margin: Results of $1.9 billion Powerball drawing finally announced. Here are the winning numbers.

Previous article

: ‘The calm before the storm’: Reducing healthcare costs is a big priority for Americans in midterm elections

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News