German prosecutors to close probe into billionaire Usmanov after €10 million payment

The German prosecutors agreed to close their probes against billionaire Alisher Usmanov regarding suspected violations of foreign trade law if he pays €10 million ($11.77 million), according to both parties’ press releases on Tuesday.

The prosecutors and lawyers for Usmanov have issued separate statements that he has accepted the terms and that the full amount should be paid. Upon the receipt of the payment, the proceedings will be halted.

"We are examining a case in which a €1.5 million payment is allegedly due to Usmanov in connection with security provision at two properties in Rottach-Egern in Bavaria between April and September 2022."

The prosecutors also charged Usmanov with not declaring jewelry, artworks, and wine to Germany's export control agency, BAFA, as is mandatory under European sanctions rules.

Usmanov has been denying all charges all along.

Usmanov, a Russian-Uzbek citizen, worth an estimated $18.8 billion, according to the Bloomberg Billionaires Index, faced sanctions from the EU and the US, as well as a travel ban, from the beginning of the war in Ukraine. His attorneys quickly pointed out that he was in no way associated with the firms accused of the alleged security payments and did not own or control the properties in question, and, in any case, the EU sanctions were irrelevant to the inquiry.

According to prosecutors in Munich, once the payment has been made, "it will not be possible to reopen proceedings based on the same behavior." The payment of €10 million will see €8.5 million go to the state treasury of Bavaria, while the balance of around €1.5 million will be allocated to the state association responsible for prisoners’ welfare.

As quoted by the BBC News website, the legal representatives of the said businessman stressed that the said money should not be perceived as a fine with the aim of punishment but was agreed upon for the avoidance of delay of the case.

In another development, German prosecutors in November 2024 withdrew another ongoing money laundering case that was targeting Russian billionaire Usmanov, further alleviating the extensive list of pending cases that he had in Germany.