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Credit Suisse is limiting probe into Nazi bank accounts, US lawmakers say
(JTA) — The U.S. Senate Budget Committee has accused Credit Suisse of impeding an investigation into former accounts at the bank held by Nazis, including many who fled to South American countries after World War II.
On Tuesday, the committee released two reports, one by an independent ombudsman the bank had hired to oversee the investigation and one by a forensic research team. The bank fired the ombudsman, American lawyer Neil Barofsky, in November, months into his investigation.
“Credit Suisse’s decision to stop its review midstream has left many questions unanswered, including questions about the thoroughness of its prior investigative efforts, the extent to which it served Nazi interests and the bank’s role in servicing Nazis fleeing justice after the war,” Barofsky wrote in his findings, according to reports.
Sen. Chuck Grassley, the Senate committee’s ranking Republican, added in a statement on Tuesday: “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.”
Jewish organizations have long claimed that in addition to playing a key role in financially supporting Nazi Germany, Credit Suisse has held onto money looted from Jews long after the war. In 1999, the Swiss bank paid Jewish groups and Holocaust survivors a settlement of $1.25 billion in restitution for withholding money from Jews who tried to withdraw their funds.
In 2020, the Simon Wiesenthal Center, an antisemitism watchdog named after a famed Nazi hunter, reported that an Argentine investigator had found evidence that thousands of Nazis who fled to Argentina had kept accounts at Credit Suisse for decades, some with looted funds. The bank then opened an internal investigation.
Earlier this year, Grassley said that he had “received credible allegations of potential wrongdoing related to Credit Suisse’s internal investigation, including specifically the questionable removal of Mr. Barofsky in late 2022.”
“[T]he 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,” Grassley said in a statement.
According to the Associated Press, the forensic firm AlixPartners’ report showed that 21 Credit Suisse accounts had connections to Nazis, including multiple SS officers, on the Wiesenthal Center 2020 list. The New York Times reported that Barofsky, who was hired by the bank in February, had not found any accounts definitively linked to Nazis that were still open at the time of his firing, but he wrote that he was in November still looking into accounts not included in the 1990s report that he believed could have held Nazi money.
The bank said in a statement that the new reports confirm “existing research on Credit Suisse’s history published in the context of the 1999 Global Settlement that provided binding closure for the Swiss banks regarding all issues relating to World War II.”
The probe will continue in some form, as the Senate committee noted that the bank “committed to further investigate its apparent role in supporting Nazis fleeing from justice after WWII.”
Thousands of Nazis fled Europe to havens in Latin America after the war, most notably to countries such as Argentina and Brazil but also to others such as Paraguay, Uruguay and Peru.
Switzerland had long claimed full neutrality during World War II, but the 1990s investigations into banks and other wartime financial dealings with Nazi Germany shattered that reputation. The country’s financial system, it was revealed, had laundered gold and other stolen goods through the war and resisted pushes in its immediate aftermath to pay restitution to Jewish victims of the Nazis.
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Israel’s Netanyahu Hopes to ‘Taper’ Israel Off US Military Aid in Next Decade
Israeli Prime Minister Benjamin Netanyahu speaks to the press on Capitol Hill, Washington, DC, July 8, 2025. REUTERS/Evelyn Hockstein
Israeli Prime Minister Benjamin Netanyahu said in an interview published on Friday that he hopes to “taper off” Israeli dependence on US military aid in the next decade.
Netanyahu has said Israel should not be reliant on foreign military aid but has stopped short of declaring a firm timeline for when Israel would be fully independent from Washington.
“I want to taper off the military within the next 10 years,” Netanyahu told The Economist. Asked if that meant a tapering “down to zero,” he said: “Yes.”
Netanyahu said he told President Donald Trump during a recent visit that Israel “very deeply” appreciates “the military aid that America has given us over the years, but here too we’ve come of age and we’ve developed incredible capacities.”
In December, Netanyahu said Israel would spend 350 billion shekels ($110 billion) on developing an independent arms industry to reduce dependency on other countries.
In 2016, the US and Israeli governments signed a memorandum of understanding for the 10 years through September 2028 that provides $38 billion in military aid, $33 billion in grants to buy military equipment and $5 billion for missile defense systems.
Israeli defense exports rose 13 percent last year, with major contracts signed for Israeli defense technology including its advanced multi-layered aerial defense systems.
US Republican Senator Lindsey Graham, a staunch Israel supporter and close ally of Trump, said on X that “we need not wait ten years” to begin scaling back military aid to Israel.
“The billions in taxpayer dollars that would be saved by expediting the termination of military aid to Israel will and should be plowed back into the US military,” Graham said. “I will be presenting a proposal to Israel and the Trump administration to dramatically expedite the timetable.”
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In Rare Messages from Iran, Protesters ask West for Help, Speak of ‘Very High’ Death Toll
Protests in Tehran. Photo: Iran Photo from social media used in accordance with Clause 27a of the Copyright Law, via i24 News
i24 News – Speaking to Western media from beyond the nationwide internet blackout imposed by the Islamic regime, Iranian protesters said they needed support amid a brutal crackdown.
“We’re standing up for a revolution, but we need help. Snipers have been stationed behind the Tajrish Arg area [a neighborhood in Tehran],” said a protester in Tehran speaking to the Guardian on the condition of anonymity. He added that “We saw hundreds of bodies.”
Another activist in Tehran spoke of witnessing security forces firing live ammunition at protesters resulting in a “very high” number killed.
On Friday, TIME magazine cited a Tehran doctor speaking on condition of anonymity that just six hospitals in the capital recorded at least 217 killed protesters, “most by live ammunition.”
Speaking to Reuters on Saturday, Setare Ghorbani, a French-Iranian national living in the suburbs of Paris, said that she became ill from worry for her friends inside Iran. She read out one of her friends’ last messages before losing contact: “I saw two government agents and they grabbed people, they fought so much, and I don’t know if they died or not.”
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Report: US Increasingly Regards Iran Protests as Having Potential to Overthrow Regime
United States President Donald J Trump in White House in Washington, DC, USA, on Thursday, December 18, 2025. Photo: Aaron Schwartz via Reuters Connect.
i24 News – The assessment in Washington of the strength and scope of the Iran protests has shifted after Thursday’s turnout, with US officials now inclined to grant the possibility that this could be a game changer, Axios reported on Friday.
“The protests are serious, and we will continue to monitor them,” an unnamed senior US official was quoted as saying in the report.
Iran was largely cut off from the outside world on Friday after the Islamic regime blacked out the internet to curb growing unrest, as videos circulating on social media showed buildings ablaze in anti-government protests raging across the country.
US President Donald Trump warned the Ayatollahs of a strong response if security forces escalate violence against protesters.
“We’re watching it very closely. If they start killing people like they have in the past, I think they’re going to get hit very hard by the United States,” Trump told reporters when asked about the unrest in Iran.
The latest reported death toll is at 51 protesters, including nine children.