German officials search bank in Russian oligarch probe

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Swiss bank UBS confirmed that its branches were the subject of the searches and that it was cooperating with authorities.

The prosecutors’ spokesperson did not name the bank and declined to name the oligarch, adding that individuals of the bank were not under investigation.

Weekly Der Spiegel, which first reported the search, said the case involved Russian billionaire Alisher Usmanov.

An Usmanov spokesperson categorically rejected the allegations, describing them as unfounded, false and defamatory.

“The businessman is a law-abiding and conscientious taxpayer who has paid taxes in Russia,” the spokesperson said.

The prosecutors’ spokesperson said the oligarch in question was also the subject of searches at a motor yacht in northern Germany in September.