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credit SuisseS Ties to nazi Germany Under Scrutiny in US Senate Inquiry
A US Senate inquiry is examining Credit Suisse‘s historical ties to Nazi Germany, revealing potential links to the schutzstaffel (SS), assistance to fleeing Nazis, and a possible failure to fully disclose details during previous investigations. the inquiry, led by Senator Chuck Grassley, is being conducted by former prosecutor Neil Barofsky and is expected to conclude this summer, with a final report anticipated by the end of the year.
Expanded Investigation Details
The investigation has uncovered evidence suggesting Credit Suisse maintained relationships with individuals and entities connected to the Nazi regime, extending beyond previously known connections. Specifically,the inquiry found that the SS economic bureau held an account with the bank. Furthermore, there are allegations that Credit Suisse aided Nazis in escaping to Argentina after World War II.
Senator Grassley alleges that some accounts linked to these activities remained open as late as 2020. He also claims that Credit Suisse did not provide complete information during investigations conducted since the 1990s.
UBS’s Response
With UBS having acquired Credit Suisse in 2023, the obligation for providing information now falls to UBS. Robert Karofsky,UBS’s US CEO,testified