Grassley says Credit Suisse investigation found 890 Nazi regime accounts

Senate Judiciary Committee Chairman Chuck Grassley said Tuesday that a Credit Suisse investigation found 890 Nazi regime accounts, used by the German government during World War II.

Grassley said that multiple reports provided to him identified 890 accounts linked to the Nazis, including wartime accounts for the German Foreign Office, a German arms manufacturing company, and the German Red Cross, Fox News reported.

The accounts were discovered after UBS acquired Credit Suisse in a 2023 takeover. The bank hired U.S. prosecutor Neil Barofsky to identify any accounts linked to the Nazis.

Grassley held a hearing with UBS representatives on Tuesday to dig deeper into the findings.

In his opening statement, Grassley said that the hearing was part of an investigation by him and Sen. Sheldon Whitehouse, D-R.I., "into Credit Suisse’s historic servicing of Nazi-linked accounts."

"We launched this investigation last Congress when we led the Senate Budget Committee," he explained, adding that the hearing was an update on the probe.

Regarding the Nazi accounts found by the bank, "Some accounts remained open until the 1990s; one remained open as recently as 2020," Grassley said.

"This investigation has reaffirmed that Swiss banks haven’t historically shown neutrality," he added. "In fact, they managed to get away with essentially being part of the Axis powers, while not fully paying for the consequences."