HK link in theft of war victims' cash

PUBLISHED : Sunday, 15 October, 2000, 12:00am
UPDATED : Sunday, 15 October, 2000, 12:00am

MORE than $300 million believed to have been embezzled from a compensation fund for Holocaust victims is thought to have been siphoned through Hong Kong. A Ukrainian legislator arrested in Germany is suspected of involvement in the disappearance from Grado bank, the bank he headed before being elected, of more than 87 million marks (HK$300 million) in German Government payments to victims of Nazism. Ukrainian officials said Viktor Zher ditskyi was believed to have transferred the money to a firm in the SAR before sending it to his Swiss account.