German police have raided the offices of Swiss banking giant UBS as part of a money laundering investigation into Russian oligarch Alisher Usmanov.
Usmanov, one of the world’s wealthiest men, has an estimated fortune of more than $19.5 billion earned through various holdings in some of Russia’s largest mining, industrial, and telecom companies. After Russia invaded Ukraine earlier this year, Usmanov was one of the first businessmen to be hit by western sanctions because of his close ties to the Kremlin.
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