German Prosecutors to Close Usmanov Probe After €10 Million Settlement

German prosecutors have agreed to end investigations into billionaire Alisher Usmanov over alleged foreign trade law violations after he consented to pay €10 million, according to statements from prosecutors and his legal team on Tuesday. Usmanov, a Russian-Uzbek businessman and founder of USM Holdings, has instructed that the full amount be paid, clearing the way for the case to be closed once the payment is received.

The probe focused on suspected payments of €1.5 million for security services at two properties in the Bavarian lakeside town of Rottach-Egern between April and September 2022, as well as allegations that Usmanov failed to declare luxury items such as jewellery, artwork and wine under EU sanctions regulations. Usmanov has denied any wrongdoing, with his lawyers stating that he neither owned nor controlled the properties involved and had no connection to the companies linked to the payments.

Munich prosecutors said that after payment, the case cannot be reopened based on the same allegations, with €8.5 million going to Bavaria’s treasury and €1.5 million allocated to prisoner welfare. Usmanov, who is subject to EU and U.S. sanctions following Russia’s invasion of Ukraine, agreed to the settlement to save time and resources, his lawyers said, stressing that the payment does not constitute a fine or admission of guilt.

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