Russian Tycoon Usmanov Sues UBS Over Money Laundering Alerts
- Usmanov claims the reports triggered an illegal criminal probe
- Sanctioned businessman is Russia’s seventh richest person
Alisher Usmanov
Source: BloombergThis article is for subscribers only.
Sanctioned Russian billionaire Alisher Usmanov sued a German unit of UBS Group AG over anti-money laundering reports that he claims triggered an illegal criminal investigation against him.
The Russian tycoon filed the suit at the Frankfurt Regional Court on June 7, his lawyers said in a statement on Monday. The suit claims the bank’s reports — filed from 2018-2022 — wrongly pointed to potentially suspicious financial transactions.