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Category 3 and 4 accounts, which had weaker and weakest Holocaust nexus respectively, added 43,415 accounts and 4.2 million Swiss Francs to the tally. [7] In 1998, a United States class-action lawsuit resulted in a settlement of $1.25 billion by the two largest Swiss banks, which is supposed to cover claims by victims and their heirs. [8]
Swiss Bank Corporation found itself in relatively strong financial condition at the end of World War II, with CHF 1.8 billion of assets. [4] By contrast, the Basler Handelsbank (Commercial Bank of Basel), founded in 1862 and one of the largest banks in Switzerland, was insolvent at the end of the war and was consequently acquired by SBC in 1945.
In 1987, Labh Singh (Sukhdev Singh Sukha) allegedly masterminded [7] what was at that time the largest bank robbery in Indian history, netting almost 60 million (58 million rupees-US$4.5 million) from Millar Ganj branch of Punjab National Bank, Ludhiana; [7] a part of this stolen money belonged to the Reserve Bank of India, India's central bank.
A night guard at a Swiss bank, he discovered that his employer was destroying records of savings by Holocaust victims, which the bank was required to return to heirs of the victims. After the Swiss authorities sought to arrest Meili, he was given political asylum in the United States. [124] [125] 1997 Alan Parkinson: Male Australian Government
The World Jewish Congress lawsuit against Swiss banks was launched in 1995 to retrieve deposits made into the three largest Swiss banks (UBS, Credit Suisse and Swiss Bank Corporation) by victims of Nazi persecution during and prior to World War II.
UBS Group AG [nb 1] is a multinational investment bank and financial services company founded and based in Switzerland.Headquartered simultaneously in Zürich and Basel, [9] it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world.
The apparent Ponzi scheme drew in more than $8 billion of "deposits" to Sir Allen's bank in Antigua, many from investors in Latin America. He was arrested by the Federal Bureau of Investigation on June 14, 2009, and sentenced to 110 years' imprisonment on June 14, 2012.
Bank name Country Total assets (2023) (billions of US$) Headquarter city 1 JPMorgan Chase United States: $3,898.33 New York City: 2 Bank of America United States: $3,051.38 Charlotte: 3 Citigroup United States: $2,416.68 New York City 4 Wells Fargo United States: $1,881.02 San Francisco: 5 Royal Bank of Canada Canada: $1,544.17 Montreal: 6 TD ...