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LATEST: Russian-Uzbek billionaire Usmanov pays €4M to settle German money laundering probe

Russian businessman and founder of USM Holdings Alisher Usmanov attends a session during the Week of Russian Business, organized by the Russian Union of Industrialists and Entrepreneurs (RSPP), in Moscow, Russia March 16, 2017. REUTERS/Sergei Karpukhin/File Photo

By Guy Faulconbridge and Miranda Murray

German prosecutors in Frankfurt have dropped a money laundering investigation against Russian-Uzbek billionaire Alisher Usmanov, his lawyers have said.

“We have always insisted on the innocence of our client,” Wannemacher & Partner lawyers Uwe Lehmbruck and Dr. Markus Gotzens said in a statement, calling it an important step towards protecting the reputation of Usmanov, aged 71.

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