U.S. Senator Reveals Discovery of Nearly 900 Nazi-Related Accounts at Credit Suisse

On February 3, Reuters reported that a recent investigation into Credit Suisse by U.S. Senator Chuck Grassley unveiled 890 previously hidden accounts potentially linked to Nazi activities. This inquiry aims to uncover the bank's clandestine involvement in World War II atrocities. The accounts, associated with entities such as the German Foreign Office and the SS paramilitary group, reportedly facilitated the transfer of funds from Jewish-held accounts to Nazi beneficiaries. Grassley disclosed these findings during a Senate Judiciary Committee briefing, where he recounted the complexities involving Credit Suisse's historical banking relations with the Nazi regime. Notably, a probe led by attorney Neil Barofsky—initially appointed before Credit Suisse was acquired by UBS in a recent emergency takeover—revealed that the bank actively obstructed his earlier investigation. UBS, which has since pledged to fully support the ongoing review, has acknowledged the troubling legacy of World War II in Swiss banking and aims to complete the investigation by early summer, with a conclusive report expected by year-end.