John Loftus, a former prosecutor in the Justice Department's Nazi War Crimes Unit, said his research found that Bush's grandfather, Prescott Bush, was a principal in the Union Banking Corp. in Manhattan in the late 1930s and the 1940s. Leading Nazi industrialists secretly owned the bank at that time, Loftus said, and were moving money into it through a second bank in Holland even after the United States declared war on Germany.
The bank was liquidated in 1951, Loftus said, and Bush's grandfather and great-grandfather received $1.5 million from the bank as part of that dissolution.
"That's where the Bush family fortune came from: It came from the Third Reich," Loftus said.Loftus made his remarks during a speech as part of the Sarasota Reading Festival. The co-author of Unholy Trinity: The Vatican, The Nazis and the Swiss Banks, Loftus documented the Swiss bank accounts that harbored funds confiscated from Holocaust victims and the participation of Italian priests in smuggling Nazi war criminals to safe haven in Canada, Central and South America and the United States after the war.
Sunday, August 13, 2006
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• Key Players in the Plame Affair
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