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Lawsuit Quashed Over ‘Hundreds of Millions’ Hidden From Nazis

  • Jewish estate was hidden from Nazis in Swiss bank during 1930s
  • U.S. judge said court doesn’t have jurisdiction in the case
Deutsche Bank headquarters in Frankfurt.

Deutsche Bank headquarters in Frankfurt.

Photographer: Krisztian Bocsi/Bloomberg
Updated on

A U.S. judge has dismissed a lawsuit against Deutsche Bank AG and Credit Suisse Group AG in which a Jewish trust tried to reclaim $3 billion that dates back to before the rise of the Nazis in Germany. 

The case centers on funds that Karl Wertheim, the son of a German-Jewish industrialist, paid into Credit Suisse accounts in Switzerland, beginning in 1931. The Wertheim Jewish Education Trust, formed in 2016, says it acts on behalf of the lawful heirs to the fortune owned by Wertheim, who died in 1945.