President of the World Jewish Congress demands new compensations from Swiss banks for Holocaust victims

According to glavcom.ua: President of the World Jewish Congress, billionaire Ronald Lauder, according to findings by Bloomberg, demands new compensations from Switzerland's largest bank UBS for Holocaust victims. He believes that the amount of 1.25 billion dollars paid by Swiss banks nearly 30 years ago is insufficient.

Ronald Lauder, heir to the Estee Lauder cosmetics empire, was involved in the 1998 deal when Swiss banks paid compensation to relatives of Holocaust victims. However, he now believes that banks should pay much more.

In early 1997, lawsuits were filed in U.S. court against three Swiss banks that later merged into UBS. In August 1998, the parties reached an agreement to pay 1.25 billion dollars in compensation. Now, due to the merger of UBS and Credit Suisse, the investigation is reopened, and Lauder insists on new compensations.

UBS management stated that they support the investigation and are ready to provide all necessary information. However, experts believe that the new investigation may violate the agreement reached in the 1990s. Ronald Lauder also acknowledges that Jewish organizations hastily reached an agreement and now intend to see the matter through to the end.

Conclusion: Ronald Lauder demands new compensations from the Swiss bank UBS for Holocaust victims, believing that the amount already paid is insufficient. The investigation related to the 1998 agreement is reopened, but the situation remains unresolved.