Deutsche Bank Sued in U.S. by Jewish Trust Over $3 Billion
- Wertheim trust seeks assets first deposited before Nazi rise
- Suit says money deposited at Credit Suisse moved to Deutsche
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Deutsche Bank AG was sued in Florida by a Jewish charitable trust that claims the firm wrongly withheld as much as $3 billion from the heirs to a wealthy German family.
The lawsuit claims the bank refuses to return the funds initially deposited by the Wertheim family in accounts opened at what is now Credit Suisse Group AG before the rise of the Nazis in Germany. Those accounts were later transferred to Deutsche Bank, according to the complaint filed Wednesday in federal court by Wertheim Jewish Education Trust LLC.