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August 1, 2015 / 16 Av, 5775
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Swiss Banks’ Holocaust Fund Has Paid Out $1.24 Billion

By: JTA

Holocaust survivors and victims’ heirs have received $1.24 billion from a Swiss fund set up in 1998 following a scandal over dormant accounts of Jews killed in World War II, according to the Swiss  Jewish weekly Tachles.

It wrote that the figure appeared in a report by New York judge Edward Korman, who oversees the management of the fund.

Korman’s report summed up operations since a landmark 1998 deal between the World Jewish Congress and Swiss banks. Under the accord, the banks paid a $1.25 billion settlement, which was transformed into U.S. government bonds.

Payouts were then overseen by Korman and the Swiss-based Claims Resolution Tribunal, which wrapped up its operations in 2012.

All told, 457,000 Holocaust survivors and heirs have therefore received money from the fund.

Among them were 199,000 people who were pressed into forced labor by Nazi Germany, and who received a share of $288 million.

The banks were accused of keeping money owned by Jews who had hidden funds in secret accounts in neutral Switzerland but then perished in the Holocaust, and of stonewalling heirs who tried to track down the money.

Within the fund, a total of $800 million was destined for account holders and their heirs.

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5 Responses to “Swiss Banks’ Holocaust Fund Has Paid Out $1.24 Billion”

  1. Anna Chong says:

    Good, wll done!!

  2. Anonymous says:

    HOLOCAUST CLAIMS COMMISSION. Why are there so many Holocaust survivors living in abject poverty while considerable sums continue to be expended by the Claims Conference on causes which lack a genuine relationship with the Holocaust. I would like to see a comprehensive list and I think we all would be quite outraged. RABBI DR. BENRHARD ROSENBERG

  3. Anonymous says:

    What about the Nazi money stolen from the jews and deposited in Swiss banks?

  4. Anonymous says:

    I am 65 years old and was born in a displaced persons camp. My parents, survivors of Auschwitz and Buchenwald, died when I was relatively young. Except for a cousin, their entire families perished in the Holocaust and all their property, including land and businesses, was taken from them.

    Any elderly Holocaust survivor who is in need of food, medicine or financial assistance, which Germany made available, should receive the additional funding through the Claims Conference.

    While I realize Holocaust survivors will say that the money given by Germany belongs to them — and it does, every penny — I can suggest other venues where this money would help the children, grandchildren and future generations of those who suffered in the Holocaust, like funds for the Jewish education of children and future generations.

    How many rabbinical schools offer courses in Holocaust history or education? This is the way to preserve the memory of the Holocaust and those who died. Already 20 percent goes to non-Holocaust venues; why not help the second and third generation? Holocaust survivors who can afford it would be happy to help their children and grandchidren. The first and only priority are the real Holocaust survivors in need of food, medicine and medical care.

    Are we going to allow the same leadership of the Claims Conference, those who were at the helm when more than $50 million was stolen? It is time for new leadership. Unless others join me in speaking out, 10 years from now we will be reading about more theft and misuse of funds while most of the Holocaust survivors will have died.

    Rabbi Dr. Bernhard Rosenberg

    EDISON

  5. Anonymous says:

    All survivors learned very quickly to keep their mouths shut so as to save their lives. Those early lessons stuck all too well. Now the 2Gs AND 3Gs don't have that excuse.

    I AM STARTING TO LOOSE ALL RESPECT FOR HOLOCAUST SURVIVORS WHO DO NOT SPEAK UP.. I NEVER THOUGHT I WOULD SAY THIS IN MY LIFE. MY PARENTS WERE SUCH FIGHTERS. I AM THE ONLY RABBI SPEAKING UP AND HAVE BEEN ATTACKED AND RIDICULED. WHERE ARE THE SURVIVORS OR 2G'S , 3g's MANY OF THE HOLOCAUST GROUPS / ORGANIZATIONS MUST BE IN BED WITH THE HOLOCAUST CLAIMS CONFERENCE. IF I HAD THE LIST I BET I WOULD BE PROVEN CORRECT. I BEG YOU , PLEASE PROVE ME WRONG.

    RABBI DR. BERNHARD ROSENBERG

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