Photo edit of President Biden and Credit Suisse amid news of shares plunging. Credit: Alexander J. Williams III/Popacta.
Photo edit of President Biden and Credit Suisse amid news of shares plunging. Credit: Alexander J. Williams III/Popacta.

A global bank that seeks to be seen as “woke” was maintaining accounts for Nazi war criminals as recently as 2020, a new report reveals.

An internal review finds Swiss bank Credit “appears to have maintained accounts, the vast majority of which have not previously been disclosed, for at least 99 individuals who were either senior Nazi officials in Germany or members of Nazi-affiliated groups in Argentina,” the U.S. Senate Banking Committee reports.

“Seventy Argentine accounts with plausible links to Argentina-based Nazis were opened with Credit Suisse after 1945, and at least 14 of those accounts remained open into the 21st century—some even as recently as 2020,” the Committee adds.

“When it comes to investigating Nazi matters, righteous justice demands that we must leave no stone unturned. Credit Suisse has thus far failed to meet that standard. While Credit Suisse initially agreed to investigate evidence of previously unidentified Nazi-linked accounts as a result of the Simon Wiesenthal Center’s relentless pursuit of justice, the information we’ve obtained shows the bank established an unnecessarily rigid and narrow scope, and refused to follow new leads uncovered during the course of the review. Its removal of an Independent Ombudsperson and insistence on redacting portions of his report as well as its initial refusal to pursue leads on accounts that may be associated with Nazi ratlines is no way to conduct a thorough and complete investigation. Now that the bank has pledged to continue investigating as a result of our oversight, we’ll keep a close eye on its thoroughness going forward. Holocaust survivors and their families deserve nothing less,” said Committee Ranking Member Charles Grassley.

“When presented with credible, new evidence of Credit Suisse’s historical servicing of Nazi clients and their enablers, along with continued efforts to downplay its significance, the Committee had an obligation to act,” said Senator Whitehouse, Chairman of the Senate Budget Committee. “I share Ranking Member Grassley’s commitment to leaving no stone unturned when it comes to investigating Nazis and seeking justice for Holocaust survivors and their families, and we commit to seeing this investigation through. The fact that Credit Suisse has agreed to expand the scope of its initial investigation in response to the Committee’s investigation demonstrates the power of congressional oversight of corporate malfeasance.”

The committee also reports Credit Suisse appears erected “barriers to (a) complete investigation.”

That conflicts sharply with the “woke” image the bank cultivates. A visit to Credit Suisse’s website finds its “sustainability” and “equity” initiatives displayed front and center.

The bank offers financing to liberal “sustainability groups” and supports international “net zero” initiatives to ban the use of oil, coal, and natural gas.

Credit Suisse also prominently features its “diversity and inclusion” initiative, boasting of its efforts to hire women and racial and sexual identity minorities.

But, in reality, the bank not only managed accounts for Nazi war criminals, but appears to have sought to cover it up.

The Committee reports:

In March of 2020, the Simon Wiesenthal Center (SWC) notified Credit Suisse that it had credible information the bank held potential Nazi-linked accounts that had not previously been disclosed, including during the many Holocaust-related investigations of the 1990s.

As a result, the bank voluntarily agreed to investigate. It retained forensic research firm AlixPartners Ltd to conduct the review, and, with SWC’s support, subsequently retained Neil Barofsky of Jenner & Block LLP in June 2021 to oversee AlixPartners’s review and serve as Independent Ombudsperson.

In February 2023, Ranking Member Grassley received credible allegations of potential wrongdoing related to Credit Suisse’s internal investigation, including specifically the questionable removal of Mr. Barofsky in late 2022. Ranking Member Grassley also learned that, consistent with his contract with Credit Suisse, Mr. Barofsky had drafted a report of his findings for the bank, but it had not been released.

Ranking Member Grassley approached Chairman Whitehouse, and they agreed that pursuing the allegations was in the public interest. Accordingly, with full bipartisan support, Chairman Whitehouse and Ranking Member Grassley issued the Committee’s first subpoena since 1991 to compel Mr. Barofsky to produce his report.

To investigate these claims, Committee staff reviewed the report and interviewed Mr. Barofsky, Credit Suisse’s General Counsel and other officials, and their respective attorneys. In the context of these conversations, the Committee also received and reviewed AlixPartners’s initial report, which was completed only after the Committee had subpoenaed and received Mr. Barofsky’s report.

As a direct result of the Committee’s investigation and its questions regarding the bank’s lack of attention to evidence involving Ratlines, Credit Suisse has committed to further investigate its apparent role in supporting Nazis fleeing from justice after WWII and to provide more detailed data about the value of accounts held during the post-1945 period. The Committee intends to continue its oversight of this matter.

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Stephen Russell
Stephen Russell
1 month ago

Make records then Public

1 month ago

Hmm, wonder if treasonous Americans have accounts with them.

John Hovis
John Hovis
1 month ago

What happen to the gold that the Nazis had in the SWITZERLAND BANKS. The SWITZERLAND BANKS would not let the HOLOCAUST SUVIVERS and there LAWERs have that gold. The court order the gold bars tested for gold teeth pulled out of dead JEWS. The court was only able to get gold bars that tested positive gold teeth from DEAD and alive JEWS. GRASSLY needs to make the SWITZERLAND BANKS holding NAZIS gold in accounts all release to the HOLOCCAST SURVIVERS.