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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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Herzog Says Wellbeing of Israelis His Only Concern in Deal With Netanyahu’s ‘Extraordinary’ Pardon Request
Israeli President Isaac Herzog speaks during a press conference with Latvian President Edgars Rinkevics in Riga, Latvia, Aug. 5, 2025. Photo: REUTERS/Ints Kalnins
i24 News – In an interview with Politico published on Saturday, Israeli President Isaac Herzog remained tight-lipped on whether he intended to grant Prime Minister Benjamin Netanyahu’s “extraordinary” pardon request, saying that his decision will be motivated by what’s best for Israel.
“There is a process which goes through the Justice Ministry and my legal adviser and so on. This is certainly an extraordinary request and above all when dealing with it I will consider what is the best interest of the Israeli people,” Herzog said. “The well-being of the Israeli people is my first, second and third priority.”
Asked specifically about President Donald Trump’s request, Herzog said “I respect President Trump’s friendship and his opinion,” adding, “Israel, naturally, is a sovereign country.”
Herzog addressed a wide range of topics in the interview, including the US-Israel ties and the shifts in public opinion on Israel.
“One has to remember that the fountains of America, of American life, are based on biblical values, just like ours. And therefore, I believe that the underlying fountain that we all drink from is the same,” he said. “However, I am following very closely the trends that I see in the American public eye and the attitude, especially of young people, on Israel.”
“It comes from TikTok,” he said of the torrent of hostility toward Israel that has engulf swathes of U.S. opinion since the October 7 massacre and the subsequent Gaza war, “from a very shallow discourse of the current situation, pictures or viewpoints, and doesn’t judge from the big picture, which is, is Israel a strategic ally? Yes. Is Israel contributing to American national interests, security interests? Absolutely yes. Is Israel a beacon of democracy in the Middle East? Absolutely yes.”
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Syria’s Sharaa Charges Israel ‘Exports Its Crises to Other Countries’
FILE PHOTO: Syria’s President Ahmed al-Sharaa addresses the 80th United Nations General Assembly (UNGA) at the U.N. headquarters in New York, U.S., September 24, 2025. Photo: REUTERS/Shannon Stapleton/File Photo
i24 News – Syrian President Ahmed al-Sharaa on Saturday escalated his messaging against Israel at the Doha forum.
“Israel is working to export its own crises to other countries and escape accountability for the massacres it committed in the Gaza Strip, justifying everything with security concerns,” he said.
“Meanwhile, Syria, since its liberation, has sent positive messages aimed at establishing the foundations of regional stability.
“Israel has responded to Syria with extreme violence, launching over 1,000 airstrikes and carrying out 400 incursions into its territory. The latest of these attacks was the massacre it perpetrated in the town of Beit Jinn in the Damascus countryside, which claimed dozens of lives.
“We are working with influential countries worldwide to pressure Israel to withdraw from the territories it occupied after December 8, 2014, and all countries support this demand.
“Syria insists on Israel’s adherence to the 1974 Disengagement Agreement. The demand for a demilitarized zone raises many questions. Who will protect this zone if there is no Syrian army presence?
“Any agreement must guarantee Syria’s interests, as it is Syria that is subjected to Israeli attacks. So, who should be demanding a buffer zone and withdrawal?”
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Turkey’s Fidan: Gaza Governance Must Precede Hamas Disarmament in Ceasefire Deal
Turkish Foreign Minister Hakan Fidan attends a press conference following a meeting with Russian Foreign Minister Sergei Lavrov in Moscow, Russia, May 27, 2025. Photo: Pavel Bednyakov/Pool via REUTERS
Turkish Foreign Minister Hakan Fidan told Reuters on Saturday that not advancing the US-backed Gaza ceasefire plan to its next stage would be a “huge failure” for the world and Washington, noting that President Donald Trump had personally led the push.
In an interview on the sidelines of the Doha Forum, Fidan said a credible Palestinian civil administration and a vetted, trained police force needed to be in place to allow Hamas to disarm, and that the group was prepared to hand over control of the enclave.
“First of all, we need to see that the Palestinian committee of technical people are taking over the administration of Gaza, then we need to see that the police force is being formed to police Gaza – again, by the Palestinians, not Hamas.”
NATO member Turkey has been one of the most vocal critics of Israel’s assault on Gaza. It played a key role in brokering the ceasefire deal, signing the agreement as a guarantor. It has repeatedly expressed its willingness to join efforts to monitor the accord’s implementation, a move Israel strongly opposes.
Talks to advance the next phase of President Trump’s plan to end the two-year conflict in Gaza are continuing.
The plan envisages an interim technocratic Palestinian administration in the enclave, overseen by an international “board of peace” and supported by a multinational security force. Negotiations over the composition and mandate of that force have proven particularly difficult.
Fidan said the Gaza police force would be backed by the international stabilisation force. He added that Washington was pressing Israel over Turkey’s bid to join the force, to which it has voiced readiness to deploy troops if needed.
FIDAN SAYS KURDISH SDF IN SYRIA NOT WILLING TO INTEGRATE
Asked about a landmark deal in March in which the Kurdish-led Syrian Democratic Forces and Damascus agreed that the SDF would be integrated into Syria’s state structures, Fidan said signals from the SDF showed it had “no intention” of honouring the accord, and was instead seeking to sidestep it.
Ankara, which considers the SDF a terrorist organisation, has threatened military action if it does not comply, setting a deadline of the end of the year.
“I think they (SDF) should understand that the command and control should come from one place,” Fidan added. “There can be no two armies in any given country. So there can only be one army, one command structure … But in local administration, they can reach a different settlement and different understandings.”
Almost a year after the fall of president Bashar al-Assad, Fidan said some issues of minority rights were unresolved, insisting that Turkey’s backing of the new Syrian government was not a “blank cheque” to oppress any groups.
He said Damascus was taking steps toward national unity, but that Israeli “destabilisation policies” were the chief obstacle.
Israel has frequently struck southwestern Syria this year, citing threats from militant groups and the need to protect the Druze community near the frontier. Prime Minister Benjamin Netanyahu said on Tuesday he expected Syria to establish a demilitarised buffer zone from Damascus to the border.
TURKEY: U.S. COULD REMOVE SANCTIONS ‘VERY SOON’
Fidan also said Washington’s initial 28-point plan to end the Russia-Ukraine war was just a “starting point,” and that it was now evolving in a new format. He said mediation by US officials was “on the right path.”
“I just hope that nobody leaves the table and the Americans are not frustrated, because sometimes the mediators can be frustrated if they don’t see enough encouragement from both sides.”
Asked about efforts to lift US sanctions imposed in 2020 over Ankara’s purchase of Russian S-400 air defense systems, he said both sides were working on it, adding: “I believe we’ll soon find a way to remove that obstacle.”