11:31 AM EDT, 06/17/2024 (MT Newswires) -- UBS (UBS) is being sued by Russian-Uzbek billionaire Alisher Usmanov in Germany over alleged reports made by the bank about Usmanov's deals that resulted in a probe of him by German authorities, media reports said Monday.

Usmanov lawyer Peter Gauweiler said in a statement that German prosecutors and the Council of the EU "issued numerous erroneous decisions for which UBS is partly responsible, in particular, due to the use of its suspicious transaction reports as an instrument for the purposes of criminal prosecution and EU sanctions policy," Reuters reported.

The lawsuit was filed UBS Europe SE Frankfurt on behalf of Usmanov personally "for the court to establish the fundamental facts and the bank's liability for damages," Gauweiler said, according to Reuters.

Lawyers representing Usmanov said UBS' reports about his deals were filed from 2018 to 2022 to Germany's Financial Intelligence Unit, which is in charge of anti-money laundering probes, the Financial Times reported.

"UBS violated the confidentiality of client data, spread misleading allegations about the client, and grossly violated the general personality right," lawyers for Usmanov said, according to the Times.

Usmanov previously denied allegations of money laundering or tax evasion, the Times said.

UBS and Gauweiler's office didn't immediately respond to a request for comment by MT Newswires.

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