Credit Suisse denies bank servicing accounts of thousands of Nazis

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Swiss financial giant Credit Suisse, citing the results of its own two-year investigation, denied reports that the credit institution allegedly serviced the accounts of several thousand Nazis living in Argentina.


In 2020, the non-governmental Simon Wiesenthal Center asked Credit Suisse to check a list of 12,000 supporters of the pro-Nazi Unión Alemana de gremios (UAG, “German Union of Trade Unions”) who lived in Argentina in the 1930s and had accounts with the Schweizerische Kreditanstalt (SKA, Swiss Credit Union). institute, Credit Suisse’s predecessor bank). The Simon Wiesenthal Center also claimed that some of the accounts held funds from Holocaust victims.

The Swiss bank, to conduct the relevant investigation, the Swiss involved specialists from the international consulting company AlixPartners, which for two years studied archives and databases containing data on millions of Credit Suisse accounts.

“AlixPartners’ findings found no evidence to support the SWC’s claims that ‘many’ of the UAG members or Argentine Nazis on the lists had accounts with the SKA during the Nazi period (1933-1945), nor did they find evidence that on what “Any of the accounts identified during this period contained assets of Holocaust victims,” ​​the bank said.

In addition, AlixPartners analyzed a list of 311 high-ranking Nazis that the Simon Wiesenthal Center sent to the President of Switzerland 25 years ago. In the 1990s, Professor Joseph Jung and the Swiss Independent Expert Commission (the “Bergier Commission”) analyzed the same list and identified eight more people who had accounts with the SKA from 1933 to 1945.

“AlixPartners identified another account during this period, which was closed in March 1933. As for the post-war period, which was not the focus of the “Bergier Commission” and Professor Jung, AlixPartners confirmed 12 accounts opened in the 1950s, 1960s- 1970s, and 1970s. All these accounts are closed,” the bank said in a statement.

Credit Suisse has extended AlixPartners’ mandate to review post-war accounts unearthed in the course of the investigation and several other issues, thus noting the bank’s “commitment to establishing historical truth to the extent possible.” Credit Suisse also said it was cooperating fully with the US Senate Budget Committee.

The U.S. Senate Budget Committee on Tuesday released data on Credit Suisse servicing the accounts of high-ranking Nazi officials through 2020.

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