Charges Dropped: Alisher Usmanov's Legal Victory

German prosecutors have dropped a money laundering investigation against billionaire Alisher Usmanov. This marks a significant victory for Usmanov, whose legal team emphasized his innocence throughout the process. The investigation, which lasted over two and a half years, failed to substantiate any allegations against the billionaire.

German prosecutors in Frankfurt have officially terminated their money laundering investigation against Russian-Uzbek billionaire Alisher Usmanov. This news was confirmed by Usmanov's legal representatives on Monday.

The legal team, Wannemacher & Partner, expressed satisfaction with the outcome, highlighting that they have consistently proclaimed Usmanov's innocence. "This development is crucial in safeguarding Usmanov's reputation," stated Uwe Lehmbruck and Dr. Markus Gotzens in a formal statement. Meanwhile, the Frankfurt Prosecutor's Office has diverted inquiries to federal prosecutors, who are yet to respond.

Usmanov, whose wealth spans across mining, industry, telecoms, and media, is valued at $14.4 billion according to Bloomberg Billionaire's Index. His lawyers underscored the lack of evidence over more than two years which failed to sustain the primary allegations, including money laundering.

(With inputs from agencies.)