[3], After Ferdinand Marcos and his family were sent to exile in Hawaii, President Aquino's Executive Order No. Before it can claim ownership of [16] The Swiss authorities advised the Philippine representatives to formalize the request, and even told them to finish this before the day's end. For the first time in 60 years, in 2022, Chinas population stopped growing. "It remains uncertain whether Kim Il-Sung received any kickbacks from Marcos or was notified of opening the bank account," the aide said. Andres Bautista, head of the Philippine Commission on Good Government, which is tasked to recover the alleged ill-gotten wealth of the late strongman Ferdinand Marcos, speaks in a news conference in Mandaluyong City on Wednesday, Feb. 12, 2014. A client stores gold in a Swiss bank of the highest reputation. [12], The Chaves Report suggested that the Philippine Government would have immediately recovered the $213 million in July 1986 from Credit Suisse and its affiliates had the operation not been stopped by PCGG Chairman Salonga and Solicitor-General Ordoez, and that this would have "paved the way to the recovery of the other deposits of the Marcoses with the Swiss banks" which was estimated by the Chaves Report to be at least $3 billion. In Manila, David Castro, chairman of the Presidential Commission on Good Government, told reporters that the government couldnt hope to legally recover the gold, and should settle directly with the Marcos family. (Jan. 15, 2009) On January 12, 2009, Switzerland's Federal Supreme Court ruled that assets deposited by an associate of Ferdinand Marcos, the former president of the Philippines, should be returned to the Philippines. 2, freezing all Marcos assets in the Philippines. [12], On May 7, 1986, Mike de Guzman attempts once more to retrieve the Marcos money in the Swiss accounts, by making Scheller acknowledge their personal meeting and the Power of Attorney. [11] Marcos' Swiss lawyers submit copies of the revocation to the Swiss authorities. Philippine Airlines: the worst flag carrier? Philippine politics - it's a family affair, More than 20,000 Russians dead in Bakhmut, US says, Final celebrities arrive at Met Gala red carpet, Trump rape accuser says her generation stayed quiet, 'My wife and six children joined Kenya starvation cult', On board the worlds last surviving turntable ferry. Sign in to listen to groundbreaking journalism. This is false. "We really don't know where they are. Please abide by Rappler's commenting guidelines. Sa isang artikulo ng Associated Press noon pang 1991, pinabulaanan mismo ng mga kinauukulan sa Switzerland ang pagdadala umano ni Marcos ng 320 toneladang ginto sa bansa. A substantial cache of gold bars believed smuggled out of the Philippines by the late president Ferdinand Marcos may be lying in an airport warehouse in Switzerland, a senior official said. Kaduda-dudang impormasyon: Hindi nagtutugma ang impormasyong nakasaad sa sertipiko, na binabanggit ang FINMA at ang ICC Publication No. The Swiss high court, which has ruled on the Marcos money nearly 30 times over the past decade, waived the final conviction requirement in December 1997. By November 3, Imelda returned to Hawaii after Doris Duke posted a US$5 million bail. In its latest ruling, the Singapore court affirmed the high courts August 2012 decision. SEOUL -- The late Philippine Dictator Ferdinand Marcos has deposited multi-billion-dollar-worth gold bars at a Swiss Bank in the name of the late Even if they were, new money laundering regulations now demand that bankers report suspicious transactions. a 20% commission on the $213 million) if the monies were recovered, and thus he had an interest in ensuring that recovery did take place. Another video clip in Bongbongs vlog showed him holding a wine glass and telling his 92-year-old mother, Sa inyo naman ni Daddy lahat ito eh. (All of these are for you and Daddy.). Anyone can read what you share. Click on this image to answer. Philstar Global Corp. All Rights Reserved. Banks also had to take greater steps to ascertain the true owner of funds before accepting them for deposit. He should find it easy to strike a deal with his own family if the supposed plan to tap Marcos wealth for the poor population is not just another political aspiration. Two months later, however, Hawaii District Court Judge Manuel Real issued a ruling stopping the transfer of the Marcos ill-gotten wealth to the Philippines as ruled by the Supreme Court and threatened banks that did so. But daughter Imee Marcos, now governor of Ilocos, when asked, denied any knowledge of it. The whole fiasco was then brought into light by the Philippine House of Representatives' Committee on Public Accountability in mid-1989, under the Chairmanship of Cong. "Yes," she said proudly. The Swiss moved to criminalize money laundering, which had not been illegal. LTO earnings cant be used for plates, licenses, 'For all workers': LRT-2, MRT-3 to give free rides to adults on Labor Day 2023, Railway passengers can save up on their commutecome Monday, with the Light Rail Transit-Line 2 and the Metro Rail Transit-Line 3 both announcing free rides for workers and employees in lieu of the Internationalr. Call 896 6000. Official Claims Marcos Shipped Tons Of Gold To Switzerland. The issue came to the fore again late last year, when Mrs Marcos' former aide, Vilma Bautista, appeared in a New York court charged with illegally selling a Monet painting. De Guzman then was put in touch with Brigadier General Jose T. Almonte and Charlie Avila. That family moment was captured in his YouTube vlog posted on Saturday. The government appealed the case. Ascalon, met with PCCG lawyer Dr. Salvioni, who advises them that any request made by the Philippine Government must be signed by the Solicitor-General of the Philippines. After 11 years, Operation Big Bird and its successors have found only $500 million in Marcos funds, and no gold, in Swiss banks. Not surprisingly perhaps, Imelda's shoes are the part of the collection that is best accounted for. The alleged gold bars were a part of what a Japanese army general had looted from Asian countries during World War II, ***Munhwa*** said. Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. He said that when the Swiss government agreed to repatriate the Swiss money, it was on the condition that the human rights victims are compensated.. WebCORE Aggregating the worlds open access research papers The Marcos millions that fueled these changes were uncovered in 1986, the year a revolt drove him from power. [18], On August 10, 1995, the PCGG filed with the District Attorney in Zurich, Switzerland, an additional request for the immediate transfer of the deposits to an escrow account in the Philippine National Bank (PNB). The bars bore the Central Bank of the Philippines hallmark and were kept in the storage vault of a bonded warehouse managed by Union Bank at the J.M. But while the shoes and clothes are of undoubted historic interest, they do not have big monetary value. I told Lito Gorospe, who still assisted her with media details, that I was afraid to go near the precious items. [11] De Guzman finally calls Gen. Almonte and updates him of his recent activities. Last year, the Swiss Parliament, after much debate, overhauled its 1983 law governing help to foreign countries trying to reclaim missing funds. It claimed, among other things: that Marcos and his wife Imelda opened international bank accounts in Switzerland in 1954 and in 1963; that the Marcoses first deposit in these bank accounts was US$68 million; and that the money deposited by the Marcoses did not come from ill-gotten wealth. Ordoez postpones the meeting until the next day. "[5] On March 1, 1986, De Guzman returned to Vienna and meets Dagher who updates him on the various reactions in the Swiss banking community regarding the recent developments in Manila. Sa artikulo ng New York Times noong 1986, $800 milyong Swiss deposits ang nakapangalan kina Marcos at sa asawa niyang si Imelda, hindi $3 trilyon. ''It didn't stop with the Nazis,'' said Mark Pieth, a Swiss expert on money laundering. AM221-33334 worth total of $ 800, 000, 000, 000, Marcos' revocation of the Power of Attorney was sent by facsimile to his Swiss lawyer, Bruno de Preux of the law firm Tavernier, Gillioz, de Preux, Dorsaz in Geneva. The client has a statement that he owns physical gold. She said those papers were the legal basis for her claiming valuable assets, mainly gold, stashed away in banks in 72 countries. They argued that if the Government had dealings with them, why shouldn't they?''. The case of some $500 million stashed in Swiss banks by the former dictator of the Philippines, Ferdinand Marcos, has prompted reforms that make it harder for corrupt rulers and criminals to stow assets here. The off-base call was made to avoid possible wire taps or listening devices. Will there be a golden age for Philippine labor? In our 2009 interview, Mrs. Marcos showed us purported documents (such as gold certificates) supporting her claim to immense wealth waiting to be tapped. ECB Deposit Rate to Peak at 3.75% in July. Alejandro Melchor, Jr.[14], On July 4, 1986, De Guzman, Almonte, and Ordoez arrive in Bern, and are met by Ascalon. The Land Transportation Office daily revenue collections cannot be used in the production of drivers licenses and plates, which have budget allocations from Congress, an official said over the weekend. The Marcos money also publicly pointed up the weaknesses in Swiss law for countries seeking to retrieve funds in the country's banks, said Peter Cosandey, Zurich's veteran prosecutor, who was in charge of the case for seven years. Sa artikulo ng New York Times noong 1986, $800 milyong Swiss deposits ang nakapangalan kina Marcos at sa asawa niyang si Imelda, hindi $3 trilyon. He refers to the Marcos wealth as being "confiscated" rather than recovered by the commission, insisting there is no legal basis to take any of the assets. This is inaccurate. Mrs. Marcos said her husband was lawyering for many mining firms and quietly The amount is also equivalent to almost half of the combined GNP of the worlds top 10 economies in 1998. Robert Sison, Mrs Marcos' lawyer, fears that is exactly what the commission thinks. But the court made clear that the rejection would not in any way deny the moral claims of the human rights victims and acknowledges that the human rights victims deserve redress for the grievous wrongs that they suffered.. [8] The meeting was confirmed by Ms. Ching Escaler, Aquino's Appointments Secretary (and later Philippine Ambassador and Permanent Representative to the UN in Geneva and New York City) on December 29, 1986. Add your comment to start the conversation. It has also found a ruby and diamond tiara, locked in the vault of the Swiss central bank, which could fetch more than $8m. Sergio Salvioni, Guy Fontanet, and Moritz Leuenberger, to handle its case. Alejandro Melchor - ensuring the Philippine government's interest in the bank protected. This prevents low-level bank employees, as well as tax authorities, from identifying clients through bank documents, as explained in a 1983 study published in the 1983 study published in the North Carolina Journal of International Law on Swiss banking secrecy. In 1998, the funds were remitted to the Philippines in escrow. "Former president Marcos had borrowed the names of dictators from third countries to prevent others from withdrawing deposits from his secret bank accounts," the unnamed former aide to Marcos told ***Munhwa.***. Now were wondering if using their hidden wealth to lift Filipinos from poverty as allegedly instructed by the elder Marcos and told us by Mrs. Marcos is just another political aspiration.. As for Mrs Marcos, she is now in her 80s but still as strong and flamboyant as ever - and still a keen art collector. The PCGG, in behalf of the Philippine government, has been battling with the claimants over millions of dollars of Marcos money believed to have been plundered through the years, saying it belonged to the governments coffers. Source: Bloomberg survey of economists conducted April 21-26. FACT: Marcos created a bank account at Credit Suisse on March 20, 1968 under the fake name William Saunders. Read about our approach to external linking. Aquino approved the plan, and Operation Big Bird finally commenced with De Guzman, Almonte, being joined by Solicitor-General Sedfrey Ordoez. The Commission on Good Government has been concentrating on the bigger-ticket items - it has sold real estate in New York and millions of dollars-worth of SHARE A substantial cache of gold bars believed smuggled out of the Philippines by the late president Ferdinand Marcos may be lying in an airport warehouse in Switzerland, a senior official said. This site uses cookies. The court explained that it was compelled to reject the rights victims claims as the relevant documents did not have the legal effect of transferring any proprietary interest in the funds to them. At the same time, the law bolstered provisions of a ''due diligence'' rule mandating that banks uncover the actual owner before accepting funds. [8] After arriving in Jounieh, De Guzman and Dagher met with fellow bankers who give him an idea on how Iran was able to recover the frozen assets of the abdicated Shah Mohammad-Rez Shh Pahlavi in Switzerland. Imelda is a congresswoman; her daughter Imee is a provincial governor; her son BongBong is a respected senator who has a realistic chance of becoming president in 2016. When he asks to inspect the gold, he is told that he cant. Video, On board the worlds last surviving turntable ferry, AI pioneer warns of dangers as he quits Google, Shooting suspect was deported four times - US media, Yellen warns US could run out of cash in a month, Photo of Princess Charlotte shared as she turns 8, King Charles to wear golden robes for Coronation, Disney faces countersuit in feud with Florida, Explosion derails train in Russian border region. 500/600. Ang sertipiko ay may petsang Oktubre 25, 1982, ngunit ang FINMA na maaaring tumutukoy sa Swiss Financial Market Supervisory Authority ay itinatag noong 2009, halos tatlong dekada mula sa petsa ng sertipiko. He was first a representative of Ilocos Nortes 2nd District from 1949 to 1959, and a member of the Senate from 1959 to 1965. [12] On July 13, 1986, The Philippine Daily Inquirer quotes Ordoez that they were able to retrieve the initial US$213 million of Marcos' plundered money in Switzerland, and that the said fund will be in the government's hands soon. I asked. North Korean founder Kim Il-Sung died in 1994. The Philippine government has recovered the remaining $29 million of the multimillion-dollar Swiss bank deposits stashed away by the late dictator Ferdinand Marcos. This needs context. Among his campaign promises, btw, was to bring down the price of rice to P20/kilo from the present average of P30. Bongbong, 64, will soon be the president of some 110 million Filipinos reeling from the double whammy of a pandemic and an anemic economy. Mr. Salinas has denied the accusation. Then in the early 1980's, millions turned up in Switzerland that belonged to Mexico's state owned-oil company, as well as to various dictators, including Jean-Claude Duvalier of Haiti and Haile Selassie of Ethiopia. Noong CLAIM: Marcos and his wife deposited US$68 million in their newly-opened Credit Suisse bank accounts. This is a Panamanian entity created by Mr. Marcos which had opened a deposit with Swiss banks are also doing all they can to stop clients taking their gold out. Readers asked VERA Files Fact Check to verify the video, which was a copy of an April 28, 2020 episode of The Rita Gadi Hour hosted by FB page Katipunan ng Demokratikong Pilipino. Marcos wanted to confirm this information and sends Bongbong and De Guzman around 10:00 pm to Honolulu International Airport to call their personal banker in Credit Suisse, Ernst Scheller. More Chinese died, 10 million, than the number of Chinese born, 9.02 million. A TikTok user also shared part of the incorrect video, generating over 95,000 interactions and almost 876,000 views. 02 May 2023 00:20:42 AP PHOTO/BULLIT MARQUEZ. Why is it important to subscribe? 1 on February 28, 1986, created the Presidential Commission on Good Government (PCGG). The Philippine judicial system is also frustratingly slow. Castro claimed the gold is held by the Union Bank of Switzerland in Zurich, and produced certificates from a Manila firm, Tamaraw Security Services Inc., saying it assisted in the transfer, and from an unnamed Philippine Airlines pilot who Castro claims flew the gold to Switzerland. Meanwhile, the Philippine Supreme Court did rule in 2003 that the assets in question were ill-gotten wealth or stolen money. Already have Rappler+? [8] In 1985 Mike De Guzman made acquaintance with Victor Bou Dagher, a Lebanese national residing in Austria who had some connections and acquaintances in the European banking network. While the case was winding its way through Swiss courts, Marcos died in 1989 in exile in Hawaii, after his efforts to regain the millions were rebuffed. "Ferdinand Marcos was a gold trader before he became president, and he made his money then.". Kloten The Swiss Court in the 1997 ruling also ordered the return of assets to the Philippines, but only if human rights victims of Martial Law were given compensation through judicial proceedings in compliance with principles of the International Covenant on Civil and Political Rights. [2] Jovito Salonga, who by 1989 was already the Senate President, and Ordoez who became Justice Secretary, have fully denied these accusations. [11] On June 16, 1986, in Manila, Gen. Almonte arranges a meeting between De Guzman and the brother of Pres. [7][21], On October 27, 1999, the Senate Blue Ribbon Committee held a special hearing in the Philippine Consulate in Honolulu. ''The story goes on because after the war, the practice of accepting money from anyone looking for a safe place was a boost to the banking system. "This is a job we took an oath to do, and we want to do it well," he said. Have you seen any dubious claims, photos, memes, or online posts that you want us to verify? Officials in Zurich, Switzerland, however, dismissed the claim as groundless. He then allegedly shipped it to Switzerland between October 1983 and 1985, one year before he was ousted in the popular uprising that propelled Corazon Aquino to power. Ang original poster ay mayroon ding 4,100 followers. Mrs. Marcos explained [11] A meeting with the Federal Department of Justice and Police only took 20 minutes, when the Swiss authorities unanimously decided to approve in principle the selective defreezing of only those identified Marcos accounts and foundations, amounting to US$213 million. Marcos Jr., who garnered 31,629,783 votes, or 58.77 percent of the 53.8 million votes cast for president last May 9, is scheduled to take his oath on June 30, signaling the familys return to power. The family of Marcos appealed the decision and the funds remained in escrow with PNB until the high court ruled with finality. The identity of those who avail of numbered accounts are only known to banking officials in direct transaction with clients, who are usually wealthy or very important people. Marcos famously used the alias "William Saunders" for the name of the account, while Imelda Marcos choose the alias "Jane Ryan." Learning of the large sums, said to be siphoned from international financial aid, Japanese war indemnity payments, state monopolies and directly from public and state gold reserves, Swiss Government ministers invoked their emergency powers to freeze the accounts. There was an outcry in September when it was revealed that much of the museum's collection had been eaten by termites. We use cookies to ensure you get the best experience on our website. [5][11][12][15] De Guzman makes Ordoez and Almonte members of the Board of Exportfinanzierungsbank, along with Almonte's former mentor and former Marcos Executive Secretary, Amb. [3] Evidence suggests that de Guzman acted in good faith on behalf of the new government but that a double cross may have been present. that Marcos and his wife Imelda opened international bank accounts in Switzerland in 1954 and in 1963; that the Marcoses first deposit in these bank accounts was US$68 million; and. [5][11][12] The Swiss Federal Council taking note of the confusion created by the Banking Commission's "freeze order" made a follow through act, and formalized the freeze order in anticipation of the new Philippine government's claim on the said accounts. Marcos had bullion in 177 banks, starting his gold hoard 10 years before he became president in 1966. Wish me well. Moving to close loopholes in the country's banking and legal structure as efforts to restore the money stalled, Swiss lawmakers made money laundering a crime for the first time, and overhauled its legislation for assistance to foreign governments seeking return of illicit wealth. The court also rejected the claim of the Swiss-based foundations, saying that their entitlement was lost following the Swiss Federal Supreme Court orders effecting the transfers. (Editors Note: VERA Files has partnered with Facebook to fight the spread of disinformation. With your meaningful insights, help shape the stories that can shape the country. [8][9] On March 2, 1986, De Guzman and Dagher fly to Lebanon via Cyprus to meet with some contacts in the European banking industryBeirut being the banking capital of the Mediterranean basin. [11] On June 18, 1986, Dr. Carrascoso informed De Guzman that Chairman Salonga was not available, and thus he was instead referred to Commissioner Raul Daza. Author is onTwitteras@FDPascual. This gave Ferdinand Marcos to execute a revocation of his Power of Attorney to De Guzman. Email:[emailprotected]. Marcos died in exile in Hawaii in September 1989. Just how much is the Marcos wealth worth? No. On July 1, the rule was strengthened so such transactions are now reviewed at the bank's highest management level. WebThe Gold Deposits backed-up were form part from the International Recognized Codename Spiritual Wonder Boy with Account No. In the space left blank for exemplary damages, the foreman had scrawled $US1.2 billion$US200 million more than Swift had requested. A long argument ensues between the Swiss lawyers and the Philippine representatives. She was also found to have another three famous artworks in her possession. Noong 2021, inilabas ng FactRakers ang isang artikulo na pinabubulaanan ang pahayag ng dating peryodista na dismissed na raw ang mga kaso tungkol sa nakaw na yaman ng mga Marcos. Cosandey said that he would have no more contact with Castro following reports that Castro had hired an Australian agent - apparently Jacobi - to tap illegally into Swiss computers to check into suspected Marcos accounts. Sandiganbayan; July 15, 2003, Efforts to Recover Assets Looted by Ferdinand Marcos of the Philippines (background paper), International Centre for Asset Recovery (ICAR) September 2007, Construction of "edifice complex" projects, Philippine economic history during the Marcos dictatorship, Philippine military history during the Marcos dictatorship, Japanese Official Development Assistance scandal, Tie a Yellow Ribbon Round the Ole Oak Tree, The Conjugal Dictatorship of Ferdinand and Imelda Marcos, Subversive Lives: A Family Memoir of the Marcos Years, Sa ikauunlad ng bayan, disiplina ang kailangan, Historical distortion regarding Ferdinand Marcos, https://en.wikipedia.org/w/index.php?title=Operation_Big_Bird&oldid=1127319896, Short description is different from Wikidata, Articles needing additional references from June 2010, All articles needing additional references, Use Philippine English from November 2022, All Wikipedia articles written in Philippine English, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 14 December 2022, at 02:10. Because, Mrs. Marcos said, that was the wish and instruction of her late husband. The Federal Tribunal said it was against Swiss interests ''to serve as a safe haven'' for funds of an ''apparently shady origin.'' Salonga was called to head the PCGG. This brought forth the suggestion that De Guzman should go to Hawaii and meet with the Marcoses to get a power of attorney to withdraw the money in their behalf before the banks close in on the accounts. Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. [8] On February 25, 1986, the People Power Revolution brought about the downfall of Pres. To find out more, please click this link. Meanwhile, before the transfer was made, the Credit Suisse official, Ernst Scheller, contacted the son of the former president, Bongbong Marcos, and informed him of the Philippine Government's actions. [20], On July 29, 1999, Sandiganbayan Presiding Justice Francis E. Garchitorena denies the motion to release US$150 million from the funds to pay Marcos human rights victims. [11] On July 1, 1986, After conferring with his older brother, Congressman Cojuangco presents the options to President Aquino, and a meeting was arranged for General Almonte and De Guzman to orient the President on Operation Big Bird. At that time, gold was priced at $420 per ounce (versus $1,856 yesterday, May 30, according to MONEX Live Gold Spot Prices). But the aide, who offered the copy of the UBS account certificate to ***Munhwa,*** said he was not sure of a deal between the two dictators. Imelda Marcos: a name synonymous with wealth, greed and excess. When they were ousted in a "People Power" revolution in 1986, Philippine investigators estimated their wealth at about $10bn (6.2bn). There are no comments yet. If neither of the above methods is successful, you may be able to link your external account by verifying trial deposits. . fdp), NB:AllPostscriptsare also archived atManilaMail.com. Just this week, the Swiss authorities announced that they had seized more than $90 million in Swiss accounts from Raul Salinas de Gortari, a brother of Mexico's former President, after a police investigation that he had received the money for protecting drug shipments. Airline companies in the Philippines are backing a P100-billion proposal to upgrade the Ninoy Aquino International Airport noting that this project will raise the flight capacity of the gateway. In defending the commission's actions, Mr Bautista refers to a Supreme Court decision from 2003, which found all but $320,000 of the Marcos assets to be the result of ill-gotten wealth. The Commission on Good Government has been concentrating on the bigger-ticket items - it has sold real estate in New York and millions of dollars-worth of shares, and obtained $600m in Swiss bank accounts. [19], Starting April 1998 up to July of that year, the Swiss authorities started transferring the identified Marcos money in Swiss banks to an escrow account in the PNB. It was here where De Guzman and his associates started calling the plan "Operation Big Bird. [11][12] Upon returning to the Philippine Embassy, the group calls Chairman Salonga and Congressman Cojuangco on the success of the Operation, and rushes to complete the required formal documents. Scheller also mentioned that he re-documented the records already and moved the accounts as instructed by Ms. Fe Gimenez, Marcos' personal secretary, three weeks before after their evacuation of Malacaan Palace. Bank secrecy had been almost sacred here since it was instituted in the 1930's. [8][14], Meanwhile, on October 21, 1988, a US federal grand jury in New York indicted Ferdinand and Imelda Marcos for a US$268 million racketeering scheme, siphoning the Philippine Treasury of US$103 million, and defrauding US banks of US$165 million. Bankers publicly criticized the move as endangering bank secrecy. [8][11][12], On March 24, 1986, De Guzman flew with Dagher to Zurich to meet with Scheller and present the Power of Attorney to transfer the Marcos money to the Exportfinanzierungsbank in Vienna. Twenty-two crates contained more than Php27.7 million in newly minted currency, mostly hundred-peso denominations worth approximately US$1,270,000.00[5] There were other certificates of deposit from Philippine banks worth about US$1 million, five handguns, 154 videotapes, seventeen cassette tapes, and 2,068 pages of documents - all of which were impounded by Customs. But today, banking secrecy's aura has been all but destroyed with revelations of its use in hiding Holocaust victims' accounts, and accepting Nazis' looted gold.