Millions Stolen From Holocaust Fund

Millions Stolen From Holocaust FundTwelve people this week were arrested this week in New York in connection with the embezzlement of tens of millions of dollars intended for victims of the Holocaust.  US officials suspect the monies have been stolen by a network of insiders employed to distribute the funds on behalf of the German Government.

In a 16-year scam that has been widely condemned Claimants recruited mainly from the Russian Jewish community in Brooklyn invented stories of suffering and escape from the Nazis more than 60 years ago to channel $42.5 million away from the fund.

More than $400 million (£240 million) a year is disbursed by the Conference on Jewish Material Claims Against Germany, set up in 1951 to compensate Jews sent to concentration camps or ghettos during the war or who had to disguise their identity to escape persecution.

The alleged ringleader of the fraud was an executive at the Claims Conference and for the past ten years had managed two funds intended as a lifeline for Holocaust survivors throughout the world.

With our experience and expertise Frenkels Forensics are able to assist with all types of forensic accounting investigations relating to criminal, commercial and business fraud.  We have also acted on many occasions for Defendants in these cases.  For more information please contact John Frenkel or Vivian Cohen on 020 8457 2929.

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