Hundreds of accounts with potential Nazi links discovered at Credit Suisse, US lawmaker says
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Nazi paramilitary organisation SS’ economic arm maintained an account with Credit Suisse, investigations have shown.
PHOTO: REUTERS
GENEVA – An investigation has identified 890 accounts at Swiss lender Credit Suisse with potential Nazi links, US Senator Chuck Grassley said ahead of a judiciary committee hearing on Feb 3 on banks’ facilitation of the Holocaust.
These included previously undisclosed wartime accounts for the German Foreign Office, a German arms manufacturing company and the German Red Cross, added the lawmaker, who chairs the committee and has followed the investigation into Credit Suisse for years.
UBS, which acquired Credit Suisse
Both UBS and Credit Suisse have apologised and reached a global settlement in 1999 that provided finality from claims and closure of controversy, the bank said in a pre-release of its testimony before the Senate judiciary committee, characterising the current investigation as a voluntary initiative.
Mr Grassley has received two reports and an investigative update on the status of Mr Barofsky’s investigation, the lawmaker told reporters.
The review produced evidence that Credit Suisse’s banking relationships with the Nazi paramilitary organisation SS were more extensive than previously known, with the SS’ economic arm maintaining an account at the bank, Mr Grassley said, citing the records.
New details also emerged on a scheme to help Nazis flee to Argentina, Mr Grassley added.
UBS said it accepts and deeply regrets that the World War II era was a dark period in the history of Swiss banking.
“We approach today’s topic with solemn respect,” Mr Robert Karofsky, president of UBS Americas, said according to the script.
When taking over Credit Suisse, UBS fully committed to getting the investigation back on track and has since taken extensive steps to facilitate Mr Barofsky’s review, Mr Karofsky said.
“Now, with three years of experience, our priority is to complete this review so that the world can benefit from the findings in the coming final report,” he said.
The investigation is set to conclude by early summer, according to Senate judiciary committee aides, and a final report expected at the end of 2026. REUTERS
