Nazi Ties to Credit Suisse Ran Deeper Than Was Known, Hidden Files Reveal [View all]

Source: WSJ via MSN

Story by Margot Patrick • 12h

Switzerland thought it came to terms with its Nazi-assisting past after harrowing probes in the 1990s led its two largest banks to pay more than $1 billion restitution to Holocaust victims. Documents unearthed in bank archives show it might have been at least in part a whitewash.

A cache of client files stamped “American blacklist,” a designation for those financing or trading with Nazis or Axis partners, was recently found by independent investigators probing Credit Suisse, one of Switzerland’s biggest banks and now part of UBS.

The investigators, who studied dusty ledgers and pored over microfilm that hadn’t been part of earlier reviews into the dark chapter, found something else, too: signs of a coverup.

In the 1990s, two panels studied Swiss banks’ World War II-era activities after anger erupted over Holocaust victims’ unreleased funds.


Read more: https://www.msn.com/en-us/money/markets/nazi-ties-to-credit-suisse-ran-deeper-than-was-known-hidden-files-reveal/ar-AA1wWMWD