Post-war Life
After the war, the Allied Military Government investigated Krupp's employment of slave laborers. He was convicted of crimes against humanity and sentenced to 12 years imprisonment and the forfeiture of all property. However, after three years, New York banker John J. McCloy, serving as American High Commissioner for Germany arranged for Krupp to be pardoned and the forfeiture of property was reversed.
His second marriage on 19 May 1952 to Vera Knauer, née Hossenfeld (1909–1967), just after his release from Landsberg Prison, ended in a scandal and an expensive settlement in 1957.
Prior to Krupp's death from lung cancer, his assistant, Berthold Beitz worked to transfer control of the company to a Stiftung ("foundation"), to be monitored by three members of a supervisory board. Most notably was Hermann Josef Abs, of the former Deutsch-Asiatische Bank A.G. and Deutsche Bank AG. In this agreement, Krupp's son and heir, Arndt, relinquished any claim over his father's businesses, and was to be paid a modest cash amount, in yearly installments, until his own death.
Read more about this topic: Alfried Krupp Von Bohlen Und Halbach
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