**Commentary** - Gold which was stolen from the victims of Nazi Germany to fund the war effort was transferred under-the-radar to banks overseas in exchange for currency during World War II, but particularly in the year 1945. - Because these gold depositories were often privately owned, the parties involved and the present whereabouts of the Nazi gold that disappeared during this time remains unclear. - However, there have been reports leaked accusing several institutions of being involved in helping the Nazi's to either sell their gold, or of still hoarding it. - The accusees include [Swiss banks](https://www.swissinfo.ch/eng/historical-book_from-nazis-to-refineries--how-switzerland-has-handled-the-world-s-gold/45037968), [The Bank of England](https://www.theguardian.com/business/2013/jul/31/bank-of-england-and-nazis-stolen-gold), and The Vatican. - On October 21, 1946, the U.S. State Department received a Top Secret report known as the ['Bigelow Report'](https://www.americamagazine.org/content/all-things/vatican-bank-scandal-nobody-talking-about) which asserted that in 1945, the Vatican had 'confiscated' 350 million Swiss francs ($1.5b 2020) in Nazi gold for "safekeeping". - The report stated that the gold was held in a Swiss bank account owned by the Vatican. - Of this sum, 150 million Swiss francs had reportedly been impounded by British authorities at the Austro-Swiss border. - Consistent with this, intelligence later suggested that around 200 million Swiss francs, largely of gold coins, were eventually transferred to the Institute for Works of Religion (aka the Vatican Bank) in Vatican City with the assistance of the Franciscan order. - As a result of this, a [civil suit](https://www.jweekly.com/2000/02/04/vatican-bank-faces-s-f-lawsuit-over-looted-nazi-gold/) was brought in January 2000 by Holocaust victims in California against the Vatican Bank, the Franciscan Order and other defendants. - However, the case was dismissed on the basis that the suit did not claim the gold was presently in the possession of the Vatican, only that it had been at some stage, with the [closing remarks]((https://cdn.ca9.uscourts.gov/datastore/memoranda/2010/02/10/08-16060.pdf) stating that the plaintiff "makes no allegation as to the _current_ location of the expropriated property." so it cannot be recovered by law. - The looted gold may have been in the possession of the Vatican, either in their Swiss-owned bank account or in the city itself, however there is no report indicating it remains there to this day. - Swiss banks [admit their involvement](https://www.nytimes.com/1996/12/14/world/swiss-acknowledge-profiting-from-nazi-gold.html) with profiting from and holding Nazi gold, yet have not revealed the account owners. - The Vatican [denies](http://content.time.com/time/magazine/article/0,9171,8505,00.html) that it ever had involvement with the gold.