UBS Triggers Lawsuit: Billionaire Accuses Bank of Spreading False Reports
Berlin, Germany – Russian billionaire Alisher Usmanov has taken legal action against UBS, accusing the Swiss bank of triggering a German investigation into his financial dealings by submitting false and baseless reports. Usmanov’s lawyers allege that UBS breached confidentiality, spread misleading information, and violated his personal rights through these reports, leading him to file a lawsuit in Frankfurt on June 7. The lawsuit stems from UBS submitting suspicious activity reports to Germany’s Financial Intelligence Unit …