By Rachel Maddow | The Mundo Post
Adapted from an interview originally published by the Abu Dhabi Times
A widening international lawsuit against UBS Group AG is bringing renewed scrutiny to Switzerland’s wartime banking legacy. Dr. Gerhard Podovsovnik, Vice President of AEA Justinian Lawyers, told the Abu Dhabi Times that his firm is representing hundreds of families who claim Swiss institutions deliberately concealed Holocaust-era assets that were never returned after World War II.
Dr. Podovsovnik represents Rabbi Ephraim Meir in a case accusing UBS and the Swiss state of orchestrating a restitution system that excluded millions of Jewish claimants. He says the process, managed through the Claims Resolution Tribunal (CRT), “systematically erased history behind the shield of bureaucracy.”
“We’re contacted every day by new families,” Dr. Podovsovnik said. “From Poland, Austria, France, Belgium, even the United States — all dismissed by the CRT with the same words: ‘No matching.’”
A System Built to Exclude
According to Dr. Podovsovnik, the CRT reviewed only accounts tied to identifiable names, ignoring millions that were anonymous, coded, or password-protected — exactly the kind of accounts used by Jewish clients to hide assets from the Nazis.
“The CRT listed 471 banks but investigated only 277,” he explained. “That left 254 untouched, many of them holding massive portfolios. Within the reviewed banks, 6.2 million accounts were identified — and that’s just the start. It’s likely another six million existed beyond the CRT’s reach.”
He added that out of those millions, only about 300,000 accounts were ever examined in depth, and a mere 52,000 were shortlisted. “We’ve received evidence that database entries were intentionally miscoded to make legitimate claims vanish,” he said. “That wasn’t negligence. That was orchestration.”
UBS and Poland in the Spotlight
The lawsuit names UBS as a central figure in the alleged scheme. “UBS was part of the machine — financially, structurally, and technically,” said Dr. Podovsovnik. “It managed the very accounts excluded from CRT review.”
He also noted that many claimants trace their losses to Poland, where confiscated Jewish property has still not been restituted. “Poland retained enormous Jewish assets and has no restitution law to this day,” he said. “We plan to include Poland among the defendants — not to punish, but to compel fairness.”
Families Confront Historical Injustice
Dr. Podovsovnik shared testimonies from families whose claims were dismissed despite clear evidence. One family from near Kraków lost its bank during the Nazi occupation; their assets were traced to Switzerland but denied restitution with the reply, “No matching.”
Another family even possessed the password and codeword for an anonymous account. “The CRT still refused them,” he said. “They were told that because the account had no personal name, it didn’t qualify. That decision shows how bureaucratic rigidity was used as a wall against justice.”
He added, “This wasn’t accidental exclusion — it was deliberate erasure by administration.”
The Path Forward: Transparency and Justice
The legal team led by Dr. Podovsovnik and Rabbi Meir is demanding a full investigation into all unexamined accounts, especially the anonymous and password-protected ones. They also call for a new restitution body — independent, international, and equipped with digital forensic tools to access every relevant archive.
Finally, they seek restitution for all funds still held by UBS, Credit Suisse, and other Swiss institutions.
“These funds were deposited to protect them from Nazi confiscation,” Rabbi Meir told the Abu Dhabi Times. “They must go back to the rightful heirs — or, where heirs no longer exist, to organizations that can help the descendants of those who were robbed.”
Switzerland’s Neutrality Questioned
Dr. Podovsovnik argues that Switzerland’s long-standing image as a neutral nation no longer holds under scrutiny. “Switzerland designed and profited from a restitution process that excluded Jewish victims,” he said. “When a country builds such a system, it shares responsibility for its outcome.”
He concluded with a message that extends beyond finance and politics:
“Each hidden account represents a silenced family, a stolen story, a broken promise. This case isn’t about reopening wounds — it’s about finally healing them. And this time, the world won’t accept the words ‘No matching.’”
