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US Senators say Credit Suisse did not review all records when probing Nazi-linked accounts

file photo: a swiss flag is seen on a building of swiss bank credit suisse in geneva
FILE PHOTO: A Swiss flag is seen on a building of Swiss bank Credit Suisse in Geneva, Switzerland

Swiss lender Credit Suisse did not review all available records when it conducted an internal probe into the historical servicing of Nazi clients and Nazi-linked accounts, according to an investigation published by U.S. lawmakers on Thursday.

The bank failed to include numerous relevant records in its probe, according to details from an independent reviewer’s report obtained and published by the Senate Budget Committee.

“Just under” 1,000 of 65,000 sets of records were available electronically for review, the report said.

The full report also revealed that the bank had blocked the former ombudsman overseeing the probe from seeing “critical” materials, the committee said in a statement.

“Out of respect for Holocaust victims and their families, we cannot turn a blind eye to these shortcomings,” Republican Senator Chuck Grassley, the ranking member of the Senate Budget Committee, said in a statement.

Neil Barofsky, the former ombudsman, and AlixPartners, the consulting firm Credit Suisse hired to conduct the probe, did not respond immediately to a requests for comment.

A spokesperson for Credit Suisse referred Reuters to its April statement defending its review and raising concerns over the ombudsman’s work.

Credit Suisse commissioned an investigation into allegations levied in 2020 by the Simon Wiesenthal Centera Jewish human rights organization that teaches the lessons of the Holocaust, that the bank held potential Nazi-linked accounts and failed to disclose them.

The lawmakers have been pushing for Credit Suisse to continue its work to track down the value of assets of certain accounts held by Nazis at the bank in the post-1945 period.

The committee previously accused the bank of hindering its own internal investigation.

The new details were first reported by Bloomberg.

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