New Study Reveals: German Banks Hold Billions Belonging to Jews

New revelations indicate that banks in Germany are still concealing massive sums stolen from Jews during the Holocaust. Recent research reveals that the value of lost Jewish assets may reach up to 40 billion euros, with just Frankfurt alone accounting for about 2 billion euros that have vanished.

The issue came to light when the grandson of Arthur Levy, a Swiss citizen, found old documents indicating a bank account with a sum of 21,124.30 Reichsmarks—equivalent to around 450,000 shekels today. The money, which was part of a dowry given to his mother Erna by her father, the Jewish butcher Simson Cohen, disappeared without a trace.

"I demanded the bank disclose the documents related to this account, but I faced outright refusal," Levy said in an interview with the German newspaper 'Bild'. According to the bank, the account was closed in 1937 with a marginal balance, but the documents themselves are unavailable for review.

Prof. Ralf Roth, a historian who researched the involvement of banks in the plundering of Jewish property, noted that in Frankfurt alone, the amount of wealth stolen from Jews reached about 2 billion euros. According to him, "over the years, banks have tried to conceal vital information and prevent access to historical documents related to Jewish assets."

Prof. Michael Wolffsohn, a member of the scientific committee accompanying the research, added that "the compensation paid after the war was meager compared to the extent of the stolen property. Many of the accounts are still hidden, and a full investigation into the matter is necessary."

So what is the current situation? Many families of Holocaust survivors are still trying to recover the funds and properties lost to them during World War II. The legal battle against the banks continues, but given the considerable opposition from the financial institutions, the chances of recovering the funds appear slim.

"We will continue to fight for truth and historical justice," concluded Levy. "It's time for the banks to stop hiding information and take responsibility for their part in the dark past."