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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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The post Credit Suisse is limiting probe into Nazi bank accounts, US lawmakers say appeared first on Jewish Telegraphic Agency.
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Exclusive: Israeli Officials Harshly Critical of Steve Witkoff’s Influence on US Policy on Gaza, Iran, i24NEWS Told
US Middle East envoy Steve Witkoff, Washington, DC, Jan. 20, 2025. Photo: REUTERS/Carlos Barria
i24 News – Amid growing disagreements with the Trump administration over the composition of the Board of Peace for Gaza and the question of a strike on Iran, officials in Israel point to a key figure behind decisions seen as running counter to Israeli interests: Special Envoy Steve Witkoff.
The officials mention sustained dissatisfaction with Witkoff. Sources close to the PM Netanyahu told i24NEWS on Saturday evening: “For several months now, the feeling has been that envoy Steve Witkoff has strong ties, for his own reasons, across the Middle East, and that at times the Israeli interest does not truly prevail in his decision-making.”
This criticism relates both to the proposed inclusion of Turkey and Qatar in Gaza’s governing bodies and to the Iranian threat. A senior Israeli official put it bluntly: “If it turns out that he is among those blocking a strike on Iran, that is far more than a coincidence.”
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EU Warns of Downward Spiral After Trump Threatens Tariffs Over Greenland
European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium, on June 17, 2022. Photo: Reuters/Yves Herman
European Union leaders on Saturday warned of a “dangerous downward spiral” over US President Donald Trump‘s vow to implement increasing tariffs on European allies until the US is allowed to buy Greenland.
“Tariffs would undermine transatlantic relations and risk a dangerous downward spiral. Europe will remain united, coordinated, and committed to upholding its sovereignty,” European Commission President Ursula von der Leyen and EU Council President Antonio Costa said in posts on X.
The bloc’s top diplomat Kaja Kallas said tariffs would hurt prosperity on both sides of the Atlantic, while distracting the EU from its “core task” of ending Russia’s war in Ukraine.
“China and Russia must be having a field day. They are the ones who benefit from divisions among allies,” Kallas said on X.
“Tariffs risk making Europe and the United States poorer and undermine our shared prosperity. If Greenland’s security is at risk, we can address this inside NATO.”
Ambassadors from the European Union’s 27 countries will convene on Sunday for an emergency meeting to discuss their response to the tariff threat.
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Israel Says US Gaza Executive Board Composition Against Its Policy
FILE PHOTO: Displaced Palestinians shelter at a tent camp in Khan Younis, southern Gaza Strip, January 14, 2026. REUTERS/Haseeb Alwazeer/File Photo
Prime Minister Benjamin Netanyahu’s office said on Saturday that this week’s Trump administration announcement on the composition of a Gaza executive board was not coordinated with Israel and ran counter to government policy.
It said Foreign Minister Gideon Saar would raise the issue with US Secretary of State Marco Rubio.
The statement did not specify what part of the board’s composition contradicted Israeli policy. An Israeli government spokesperson declined to comment.
The board, unveiled by the White House on Friday, includes Turkish Foreign Minister Hakan Fidan. Israel has repeatedly opposed any Turkish role in Gaza.
Other members of the executive board include Sigrid Kaag, the U.N. special coordinator for the Middle East peace process; an Israeli‑Cypriot billionaire; and a minister from the United Arab Emirates, which established relations with Israel in 2020.
Washington this week also announced the start of the second phase of President Donald Trump’s plan, announced in September, to end the war in Gaza. This includes creating a transitional technocratic Palestinian administration in the enclave.
The first members of the so-called Board of Peace – to be chaired by Trump and tasked with supervising Gaza’s temporary governance – were also named. Members include Rubio, billionaire developer Steve Witkoff and Trump’s son-in-law Jared Kushner.