The Hidden Billions: German Banks Accused of Concealing Holocaust-Era Jewish Assets

New evidence indicates that banks in Germany are still concealing enormous sums of money looted from Jews during the Holocaust. Recent research suggests that the value of the lost Jewish assets may reach around €40 billion, with approximately €2 billion missing in Frankfurt alone.

A Family Discovers a Missing Fortune

The story resurfaced when the grandson of Arthur Levy, a Swiss citizen, found old documents indicating a bank account containing 21,124.30 Reichsmarks — a sum equivalent to roughly 450,000 shekels today. The money had been part of a dowry given to his mother, Arna, by her father, Simson Cohen, a Jewish butcher. The funds vanished without explanation.

“I demanded that the bank reveal all documents related to this account, but I was met with complete refusal,” Levy told the German newspaper Bild. The bank claimed that the account was closed in 1937 with a minimal balance, but said the original documents were “not available” for inspection.

Historians: Banks Hid Evidence for Decades

Prof. Ralf Roth, a historian who investigated the role of banks in the seizure of Jewish property, noted that in Frankfurt alone the amount of Jewish wealth stolen reached about €2 billion. According to him, “Over the years, banks tried to hide crucial information and block access to historical documents connected to Jewish assets.”

Prof. Michael Wolffsohn, a member of the scientific committee accompanying the research, added: “Compensation paid after the war was minuscule compared to the volume of property stolen. Many accounts are still concealed, and a complete investigation is essential.”

Families Still Fighting for Justice

Many families of Holocaust survivors continue to struggle to reclaim their assets lost during World War II. The legal battle against the banks persists, but due to significant resistance from financial institutions, the chances of recovering the funds appear slim.

“We will keep fighting for truth and historical justice,” Levy concluded. “It’s time for the banks to stop hiding information and take responsibility for their role in this dark chapter.”