-Caveat Lector-

5/8/99 -- 10:59 AM
Book: Dutch banks made billions trading stolen Jewish property

AMSTERDAM, Netherlands (AP) - Dutch banks made billions of dollars trading
property stolen by Nazis from the nation's Jews during World War II,
according to a book to be released in the Netherlands on Monday.
The claims reach the top of the Dutch banking system. Those accused of
profiting from the Holocaust are forerunners of the powerful banks ABN AMRO
and ING Groep, which rank among the world's largest financial institutions.

The Netherlands' Central Bank and Amsterdam Stock Exchange were also aware of
the activities, author Gerard Alders said in interviews with Dutch media
published Saturday.

In his Dutch-language book, ``Robbery, the Theft of Jewish Belongings During
World War II,'' Alders asserts that the issue was covered up by government
officials after the war for fear of a backlash.

Alders, a historian with the Netherlands State Institute for War
Documentation, said nine years of research prove the banks ``knew it was
property theft ... of that I am absolutely positive.''

He said $500 million - now worth $7 billion - was stolen by Nazis and sold by
a group of 140 stock and bond traders from over half a dozen banks. The
traders were fully aware that their activities were illegal, Alders said.

Over 75 percent of Dutch Jews - more than 100,000 people - perished in the
Holocaust.

ABN AMRO spokesman Theo van Dijk said it was too soon to comment on the
book's claims. He added that its findings might be taken into account in an
ongoing government investigation into the role of banks during the war.

Copyright 1999 Associated Press. All rights reserved. This material may not
be published, broadcast, rewritten, or redistributed.

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