Zurich Prosecutors Reject German Request for Broad Search of Swiss Banks in Usmanov Case
The Zurich public prosecutor's office has refused a request from Munich prosecutors for extensive investigative measures into Russian-Uzbek multibillionaire Alisher Usmanov's assets in Swiss banks. The Zurich authorities deemed significant portions of the German request a 'fishing expedition,' which is inadmissible under Swiss law. Germany had sought a broad search for accounts held by Usmanov and entities potentially connected to him. While the European Union, the U.S. Office of Foreign Assets Control (OFAC), and Switzerland placed Usmanov on sanctions lists in early 2022, German legal proceedings against him have largely concluded without convictions, sometimes in exchange for payments. A criminal tax case brought by Munich II prosecutors remains pending. The Zurich prosecutors indicated they would only grant assistance where specific account relationships were credibly identified, such as with UBS, due to public knowledge from German proceedings. 
