• About
  • Advertise
  • Contact
Saturday, May 31, 2025
Manhattan Tribune
  • Home
  • World
  • International
  • Wall Street
  • Business
  • Health
No Result
View All Result
  • Home
  • World
  • International
  • Wall Street
  • Business
  • Health
No Result
View All Result
Manhattan Tribune
No Result
View All Result
Home Business

The US Senate expands its investigations into Credit Suisse Economy News

manhattantribune.com by manhattantribune.com
5 January 2025
in Business
0
The US Senate expands its investigations into Credit Suisse Economy News
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


A US Senate committee has found that the troubled Swiss bank Credit Suisse concealed information during previous investigations into accounts linked to Nazis during World War II.

The Senate Budget Committee said in a statement on Saturday that tens of thousands of documents discovered during an ongoing audit provided new evidence of the existence of accounts linked to the Nazis.

The committee added that the bank did not disclose these accounts during previous investigations, especially in the 1990s.

Credit Suisse had agreed to a $1.25 billion settlement of lawsuits filed against it by survivors of the “Jewish Holocaust,” but it was accused of not being fully open about its past dealings with the Nazis.

The Senate committee said Saturday that a newly discovered package of files, including 3,600 physical documents and 40,000 microfilms, was found to contain a “high level of connection” to the Nazis.

She explained that these discoveries resulted from an interim report by Neil Barofsky, who was dismissed by the bank from his position as an “independent investigator” in 2022 after pressuring him to limit his investigations.

Barofsky was reappointed as a private investigator in 2023, after UBS acquired Credit Suisse in the wake of a major financial crisis that the latter faced.

UBS had bought Credit Suisse in 2023.

In a letter to the committee on Saturday, Barofsky noted “the exceptional level of cooperation provided by Credit Suisse, under the leadership of UBS,” since his return to work, but added that Credit Suisse had not yet shared all the information in its possession.

For its part, the Wall Street Journal reported that Barofsky’s team discovered accounts controlled by high-ranking officers in the Nazi SS, or special protection squads.

In his letter, Barofsky highlighted discoveries described as “noteworthy” in Credit Suisse’s research department.

For its part, UBS confirmed that it would provide Barofsky with all necessary assistance in his work.

UBS said in a statement that it is “committed to contributing to the full accounting of accounts linked to the Nazis… Since the acquisition of Credit Suisse, we have made it a priority to ensure that the review is comprehensive and accurate.”

Tags: crediteconomyexpandsinvestigationsNewsSenateSuisse
Previous Post

What do the oil fields in Syria look like? What is the future of the sector? | economy

Next Post

7 principles to change the traditional concept of building wealth economy

Next Post
7 principles to change the traditional concept of building wealth economy

7 principles to change the traditional concept of building wealth economy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Category

  • Blog
  • Business
  • Health
  • International
  • National
  • Science
  • Sports
  • Wall Street
  • World
  • About
  • Advertise
  • Contact

© 2023 Manhattan Tribune -By Millennium Press

No Result
View All Result
  • Home
  • International
  • World
  • Business
  • Science
  • National
  • Sports

© 2023 Manhattan Tribune -By Millennium Press