Unveiling Nazi Links: Credit Suisse Under Scrutiny

The Senate Judiciary Committee is probing Credit Suisse over 890 accounts potentially linked to Nazis. The investigation, led by Chuck Grassley, reveals evidence of relationships with Nazi entities and plans to help Nazis flee. The review will conclude by summer, with findings expected at year-end.

An investigation has exposed 890 accounts at Credit Suisse with possible Nazi associations, Senator Chuck Grassley revealed, prior to a Judiciary Committee hearing addressing banks' roles in the Holocaust.

The accounts—previously undisclosed—include links to Germany's Foreign Office and various German entities, noted Grassley, who leads the committee overseeing this probe into Credit Suisse, now owned by UBS. Last year, UBS announced collaboration with ex-U.S. prosecutor Neil Barofsky to illuminate Nazi-linked accounts from Credit Suisse. Both banks, apologizing, settled globally in 1999 to close controversy.

Grassley received reports indicating Credit Suisse had deeper Nazi Youth organizational ties than previously known. Evidence also surfaced on aiding Nazis to flee to Argentina. UBS accepts responsibility for this era's dark legacy, committing to conclude Barofsky's review by summer, with final findings expected by year-end.

(With inputs from agencies.)