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Bern, Sritzerland Reference: Si No. & Date: April 9, 1945 SAPEHAVEN REPORT. Subject: Funds of Nationals of Balkan Countries Held in Switzerland by SOCTETE GENERAL DE SUH VEILLANGE 5,A., Geneve. Tt is reliably reported that on April 4, 1945 Societe Ceneral de Surveillance S.A,, Geneva (herein- after referred to as 5.G.5,) held a total of Swies Frenes 6,428,439.92 Belgian Franca 41, 282,.06 U.S. Dollars 61,482.61 British Sterling 565-11-2 for customers who are nationals of and residents in funenia, Bulgaria, Hungary; Croatia, Slovakia, and Moravia, In addition, S. G. §. holds other assets for such customers including a "substantial" amount of gold, some securities, and possibly jewelry, Jt is reported that the Swiss France ere deposited principally in accounts in the name of 5.¢.5. in various Seles Banks but the location of the other cure rencies has not as yet been ascertained by us. In addition to the foregoing, numbered accounts not controlled by 5.6.5. are oaintained for thesa Balkan customers of 5.°.5. in various Swiss Banks to which from time to tims in the past 5.4.8. has transferred considerable funds cut cf its own name, but complete information regarding these numbered atcounte has not yet bean obtained, Attached hereto as EXHIBIT A is a detailed list of the individual persons for whom 5.0.5. is holding Swiss Franc, dollar sterling and Belgian Franc balances. 8.G.5. in engaged primarily in the business of in- specting merchandise shipmenta in transit through Switeer- aduin land and of fredght forwarding, However, it is reliably reported that since 1941 5.6.5. also has acted in a banking or @iducdary capacity by holding funds representing pro- fits realized by its Balkan customere on shipments of mar= chandise to neutrals and to enesy territory. The trana- actions which resulted in the accumulation of profits, in- volvad over-incolcing consigneee, shipment of the mer- chandise azainst payment in Switzerland in Swies Francs, and withholding by 5.G.5. of the excess payments or balances. It is understood that the British Legution in Switzerland