Germany: Banks searched in money laundering probe of Russian

BERLIN (AP) — German officials and media say police raided two branches of Swiss bank UBS in Germany in connection with alleged money laundering by a Russian businessman. A prosecutor in Frankfurt didn’t name the suspect but said Tuesday that the raids were connected to an investigation in which officials raided a luxury yacht and two dozen properties in September. German media cited Russian oligarch Alisher Usmanovas the target in that operation. He is a close ally of President Vladimir Putin and subject to U.S. and European Union sanctions. The prosecutor stressed that the bank was not under investigation. German news agency dpa reported that officers entered UBS branches in Frankfurt and Munich.