“Credit Suisse Cleared of Allegations on Nazi Assets: Independent Evaluation Results”

2023-04-18 21:07:01

updated

Independent evaluationDid CS store Nazi assets?

For two years, an independent institute investigated allegations against Credit Suisse in connection with accounts belonging to Nazi members. The results have been available since Tuesday.

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Credit Suisse faced allegations of holding accounts for Nazi members.

20min/Matthias Spicher

Corresponding information was provided by the Simon Wiesenthal Center in Los Angeles, which is working on the Holocaust period.

Corresponding information was provided by the Simon Wiesenthal Center in Los Angeles, which is working on the Holocaust period.

imago/UPI Photo

Many Nazis from a list of 12,000 names from Argentina are said to have had accounts with the bank.  (Pictured: Argentine President Alberto Fernández).

Many Nazis from a list of 12,000 names from Argentina are said to have had accounts with the bank. (Pictured: Argentine President Alberto Fernández).

IMAGO/Aton Chile

That’s what it’s about

  • Many Nazis are said to have had accounts with the Schweizerische Kreditanstalt, today Credit Suisse.

  • The independent institute AlixPartners has examined the allegations over the past two years.

  • The information from the Wiesenthal Center in Los Angeles has not been confirmed.

The major Swiss bank Credit Suisse has investigated evidence from the Simon Wiesenthal Center of possible Nazi accounts during the Second World War and has not discovered any suspicious customer relationships in its books. She reported this on Tuesday evening after two years of research by the independent institute AlixPartners.

The Wiesenthal Center in Los Angeles, which studies the Holocaust period, had stated that according to its information, many Nazis from a list of 12,000 names from Argentina had accounts with Credit Suisse’s predecessor, the Schweizerische Kreditanstalt (SKA).

Assets of Holocaust Victims?

AlixPartners found accounts from eight names on the list in the archives. Seven had already been closed before 1937. The eighth survived, but the holder was never on a US government list of Nazi members in Argentina. A further 70 accounts were not opened until years after the end of the Second World War. The Wiesenthal Center also wanted clarification as to whether assets belonging to Holocaust victims were held in certain long-closed accounts. There were no indications of this either, according to CS.

At the end of the 1990s, Swiss historians investigated allegations that large sums of money were held by Holocaust victims in Swiss accounts that were not paid out to survivors and their families due to lack of proof of ownership. The banks then made a settlement with Holocaust survivors and their families. Together they paid out 1.25 billion Swiss francs. At the time, the settlement settled all claims from misconduct during World War II, as CS recalled.

After numerous scandals, a significant loss of confidence and the withdrawal of billions in customer funds, CS faced insolvency in mid-March. The federal government then engineered the takeover by UBS.

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(dpa/jar)

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