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Swiss Bank Admits Gold Deals With Germans

Opening a new chapter in the tangled “Nazi Gold” affair, the Swiss-based Bank for International Settlements broke decades of secrecy Monday to acknowledge gold transactions with the Germans in World War II that included both looted gold and ingots resmelted in Nazi Germany to disguise their origin.

In a statement apparently prompted by the separate controversy over the Swiss National Bank’s wartime dealings, the Bank for International Settlements, based in Basel, said the German Reichsbank - the central bank - transferred some 13.5 tons of gold between 1939 and 1945 to accounts held in its name.

Of that amount, the statement said, some 3.7 tons of gold was found at the end of the war to have been looted from the central banks of the Netherlands, Belgium and Italy and was handed over to the Allied powers entrusted with unraveling Germany’s wartime gold transactions.

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