According to an October 5 , 1942 , report from the Office of Alien Property Custodian , Union Banking was owned by Bank voor Handel en Scheepvaart N.V. , a Dutch bank . The memo from August 18 , 1941 , states " My investigation produced no evidence as to the ownership of this Dutch bank . " The Dutch bank was alleged to be affiliated with United Steel Works , a German company . Fritz Thyssen and his brother , Heinrich Thyssen-Bornemisza , had the Dutch bank and the steel firm as part of their business and financial empire according to the government agency . Fritz Thyssen resigned from the Council of State after November 9 , 1938 '' Kristallnacht '' , was arrested in 1940 , and spent the remainder of the war in a sanatorium and in concentration camps . The APC documents say " Whether any or all part of the funds held by Union Banking Corporation , or companies associated with it , belong to Fritz Thyssen could not be established in this investigation . " The assets were held by the government for the duration of the war , then returned afterward ; UBC dissolved in the 1950s
Kristallnacht
Kristallnacht
Union Banking Corporation