UBS investigates undisclosed Nazi-linked accounts at Credit Suisse

Jan 4 (Reuters) - Swiss bank UBS (UBSG.S), opens new tab is working with an independent ombudsman to shed light on Nazi-linked accounts, it said on Saturday, after the Wall Street Journal newspaper reported some accounts at collapsed bank Credit Suisse, which UBS bought in 2023, had not been disclosed in earlier investigations.

The Journal cited a December 2024 letter from the ombudsman to the U.S. Senate which said his probe had uncovered a cache of client files marked "American blacklist," a designation for those trading with Nazi-affiliated entities, and revealed signs of a cover-up during past reviews.

UBS said it was working with the independent ombudsman, Neil Barofsky, a former U.S. prosecutor who had previously been engaged by Cre...
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