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Germans Start Legal Action in Bankruptcy of Jewish Bank

Legal action has been initiated here against five leading members of the former Jewish Industries and Trade Bank and the Armknecht Banking House of Hamburg as a result of the bankruptcy of the Jewish bank in 1950.

Among the five, who are charged by the Hess authorities with fraud, misappropriation of large sums of money and violation of the Exchange Control Act, is A. Klibansky, an attorney who is one of the defense staff of Dr. Philip Auerbach, onetime head of the Bavarian Restitution Office and now on trial on charges of fraud in office.