Senator Chuck Grassley, a Republican from Iowa, revealed on Tuesday that an investigation conducted by Credit Suisse found numerous accounts connected to Nazi activities. He explained to reporters that various reports indicated there are 890 accounts affiliated with the Nazi regime. These include wartime accounts for the German Foreign Ministry and German arms manufacturers, as well as accounts associated with the German Red Cross.
After UBS acquired Credit Suisse in 2023, further details about these accounts emerged. The bank enlisted the help of U.S. prosecutor Neil Barofsky to help identify accounts with Nazi affiliations.
Grassley, along with representatives from UBS, plans to explore these findings in detail during a Senate judicial hearing about Nazi connections to Swiss banks later today.
It’s worth noting that UBS Americas President Robert Karofsky is expected to address the hearing with a statement reflecting a sense of gravity surrounding the topic. He mentioned that their focus now is on completing the ongoing review so that useful insights can be drawn from the final report.
Additionally, this hearing follows closely after International Holocaust Remembrance Day, a time when many reflect on the atrocities committed by the Nazi regime during World War II. President Trump’s statement noted the tragic history of millions of lives lost, including those of Jews, Slavs, Roma, people with disabilities, and others targeted for their identity or beliefs.
Since taking office again, President Trump has emphasized the role of the federal government in combating anti-Semitism, stating he aims to ensure that Jewish Americans—and all Americans—can practice their faith freely and without fear.
