Russian security service says searches of tycoon's office related to rescued bank

[Sports News]

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Searches by Russian law enforcement officials in offices of Russian tycoon Mikhail Prokhorov on Thursday were related to an investigation over a bank bailed out by one of his firms, the Federal Security Service said on Friday. The Kremlin earlier denied the searches were retribution for revelations about people close to President Vladimir Putin that were published by a newspaper controlled by Prokhorov. The searches of the offices of Onexim, which manages Prokhorov's assets, were conducted together with the tax service as part of a criminal investigation related to Tavrichesky Bank in St. Petersburg, the Federal Security Service said on Friday.

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