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US finds more records found linking Credit Suisse, Nazi accounts

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  • US finds more records found linking Credit Suisse, Nazi accounts
  • January 5, 2025
  • Article Body Text WASHINGTON — <p>An investigation by a U.S. Senate panel has found that troubled investment bank Credit Suisse concealed information during previous inquiries into Nazi-controlled bank accounts during World War II.</p> <p>Tens of thousands of documents discovered during an ongoing examination have provided new proof of the existence of account holders linked to the Nazis, the Senate Budget Committee said in a statement released Saturday.</p> <p>The bank did not reveal the existence of these accounts during previous investigations, notably in the 1990s, the committee said.</p> <p>Credit Suisse, now a subsidiary of investment bank UBS, agreed in 1998 to take part in a $1.25 billion settlement of lawsuits brought by Holocaust survivors, but it has been accused of not being completely open about its past dealings with Nazis.</p> <p>The Senate committee said Saturday that one set of newly discovered files, including 3,600 physical documents and 40,000 microfilms, was found to have a &quot;high relevance rate&quot; of Nazi connections.</p> <p>It said the revelations stem from an interim report by former prosecutor Neil Barofsky, who was fired as an &quot;independent ombudsperson&quot; by the bank in 2022 after being pressed to limit his investigative work.</p> <p>Barofsky was reinstated in the role in 2023 &quot;as a result of the committee's investigation,&quot; and after UBS's takeover of Credit Suisse.</p> <p>In a letter to the panel released Saturday, Barofsky noted the &quot;extraordinary level of cooperation that Credit Suisse, under the leadership of UBS, has provided&quot; since he rejoined the company.</p> <p>But he said Credit Suisse had yet to share all the information it held.</p> <p>The Barofsky team has discovered, among other things, accounts controlled by high-ranking SS officers, <em>The Wall Street Journal</em> reported.</p> <p>In his letter, Barofsky highlighted &quot;especially noteworthy&quot; discoveries from a Credit Suisse research department.</p> <p>&quot;Numerous client files in the sample are marked with a stamp stating 'Amerikanische schwarze Liste' — meaning 'American Black List' — a list maintained by the Allies of individuals and companies that were directly financed by, or were known to regularly trade with, Axis powers,&quot; he wrote.</p> <p>&quot;One file bearing this stamp relates to an entity that was involved in selling looted Jewish assets,&quot; he added.</p> <p>Contacted by AFP, UBS said it was committed to providing a complete record of the former Nazi-linked accounts in Credit Suisse's predecessor banks.</p> <p>It said it would provide Barofsky with all necessary assistance in his work to shed light &quot;on this tragic period.&quot;</p> <p>The Senate panel's investigation is continuing. </p>
  • Content Type Text
  • Language English
  • NewsML Media Topics Arts, Culture, Entertainment and Media
  • Subtitles / Dubbing Available No
  • Network VOA
  • Embargo Date January 4, 2025 20:21 EST
  • Byline Agence France-Presse
  • Brand / Language Service Voice of America - English
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