swiss banks holocaust fund paid out 124 bn
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Swiss banks Holocaust fund paid out $1.24 bn

Arab Today, arab today

Arab Today, arab today Swiss banks Holocaust fund paid out $1.24 bn

Geneva - AFP

Holocaust survivors and victims' heirs have received $1.24 billion from a Swiss fund set up after a scandal over dormant accounts of Jews killed in World War II, a magazine said Monday. The Swiss-Jewish weekly Tachles said the figure was contained 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. 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 having given heirs the cold shoulder when they tried to track down the money. Under the 1998 accord, the banks paid a $1.25 billion settlement, which was transformed into US government bonds. Payouts were then overseen by Korman and the Swiss-based Claims Resolution Tribunal, which wrapped up its operations in 2012. Within the fund, a total of $800 million were destined for account holders and their heirs. According to Korman's report, Tachles said, $726 million have been paid out since then, with $426 million of that related to claims on 4,600 dormant accounts. In addition, the fund gave a flat-rate sum of $5,000 each to 12,300 claimants whose cases were deemed "plausible but undocumented". Another goal of the settlement was to provide money to survivors of Nazi German persecution, whether or not they had held accounts in Switzerland. 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 labour by Nazi Germany, and who received a share of $288 million. In addition, 4,100 Jewish refugees who were turned back at Switzerland's borders during World War II received a total of $11.6 million. Korman also authorised the payment of a total of $205 million to 236,000 needy victims of Nazi Germany's occupation, notably in the former Soviet Union. No details of the fund's administrative budget have been revealed, but Tachles said that the Claims Resolution Tribunal, based in the city of Zurich, cost $800,000 a month to run.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

swiss banks holocaust fund paid out 124 bn swiss banks holocaust fund paid out 124 bn

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

swiss banks holocaust fund paid out 124 bn swiss banks holocaust fund paid out 124 bn

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday