AROUND THE CORNER from Isherwood Fine Arts, in Jermyn Street, a fair-haired man sat behind the wheel of a Rover sedan listening to the radio. For five days he had been watching the art dealer. He had followed him to his drunken lunches. Followed him home at night to his house in South Kensington. He’d even posed as a potential buyer in order to conceal a pair of tiny transmitters in the dealer’s office. The transmitter broadcast a weak analog signal over an ordinary FM wavelength. The man was using the radio in the Rover to monitor the output. Ten minutes later, when the conversation inside ended, he picked up his cellular phone and dialed a number in Zurich.

“Our friend is on his way to Lyons to see the professor.”

PROFESSOR EMIL JACOBI was the self-appointed guilty conscience of Switzerland. He believed that in order to save his country he first had to tear it down, and he had devoted his life to unearthing and exposing the unsavory elements of Swiss history. His explosive book, The Myth, had ignited a firestorm by detailing the extensive economic and trade links between Nazi Germany and Switzerland throughout the Second World War. Jacobi outlined the process by which Swiss banks accepted looted gold-and gold ripped from the teeth of Jews on the way to the gas chambers-and converted it into the hard currency Hitler used to buy the raw materials needed to keep his war machine running. Professor Jacobi’s conclusion shocked the country and made him a national pariah: Switzerland and Nazi Germany were allies in everything but name, he wrote. Hitler could not have waged war without the help of Swiss bankers and arms-makers. If not for Switzerland, the Wehrmacht would have ground to a halt in the autumn of 1944. Millions of lives would have been spared but for the greed of Swiss bankers.

Soon after publication of The Myth, life for Professor Jacobi in Switzerland became increasingly uncomfortable. He received death threats, his telephones were tapped, and officers of the Swiss security service monitored his movements. Fearing for his safety, he resigned his professorship in Lausanne and accepted a position in the history department of the University of Lyons.

It took Gabriel the better part of the next day to track him down.

He left two messages on Jacobi’s answering machine at home and two more with his thoroughly unhelpful secretary at the university. At one-thirty in the afternoon, Jacobi called Gabriel on his cellular phone and agreed to a meeting. “Come by my flat at six this evening. We’ll talk then.” Then he rattled off the address and abruptly rang off. That left Gabriel several hours to kill. In a bookstore near the university he found a French-language copy of The Myth and spent the rest of the afternoon reading among the students in a café off the Place des Terreaux.

At six o’clock the professor was waiting in the foyer of his apartment building on the rue Lanterne. He wore a frayed tweed jacket, and his rimless spectacles were pushed up into a bird’s nest of unruly gray hair. There were clips on the legs of his trousers to keep the cuffs from becoming entangled in the chain of his bicycle. “Welcome to exile,” he said, leading Gabriel wearily up the staircase to his flat on the fourth floor. “We Swiss revere the right to free speech, but only if that speech refrains from criticism of Switzerland. I committed the mortal sin of a good Swiss, and so I find myself here, in the gilded cage of Lyons.”

On the landing outside his door, the professor spent a long moment digging in his saddlebag through loose papers and battered notebooks, searching for the keys to his flat. When finally he found them, they were admitted into a small, sparsely furnished apartment. Every flat surface was piled with books, documents, and newspapers. Gabriel smiled. He had come to the right place.

Jacobi closed the door and hung his saddlebag over the latch. “So you wish to discuss the murder of Augustus Rolfe? As it turns out, I’ve been following that case quite carefully.”

“I thought you might. I was wondering if we could compare notes.”

“Are you a historian as well, Mr. Allon?”

“Actually, I’m an art restorer, but in this matter I’m working for the government of Israel.”

“Well, this promises to be an interesting evening. Clear the things off that chair and sit down. I’ll see to the coffee.”

PROFESSOR Jacobi spent several minutes digging through his towering stacks of paper for the file on Augustus Rolfe. It was very slender.

“Herr Rolfe was a private banker in the truest sense of the word, Mr. Allon. I’m afraid much of what I’m going to tell you is based on conjecture and rumor.”

“I’ve often found that one can learn a great deal about a man by the rumors that swirl around him.”

“When one is dealing with a Swiss banker, especially a private banker like Augustus Rolfe, rumor is sometimes the best one can hope for.” The professor slipped on his glasses and opened the file. “There are very small private banks in Zurich, and there are extremely large ones. The giants like Union Bank of Switzerland and Credit Suisse both have private banking divisions, though they handle only very wealthy customers.”

“How large?”

“Usually, a minimum deposit of approximately five million dollars. It’s been reported that the intelligence agencies of your country utilized the private banking services of Credit Suisse.” The professor glanced at Gabriel over the open file. “But then, I’m sure you know nothing of that.”

Gabriel let the question sail by. “From what I know of Augustus Rolfe, he fell into the first category.”

“That’s right. The Rolfe bank was a small enterprise-Rolfe and a half-dozen employees, if that. If you wanted someone to hide your money or your belongings in Switzerland, Augustus Rolfe was your best friend. He was one of the most discreet and most influential bankers in Zurich. He had very powerful friends. That’s what makes his murder so baffling to me.”

“What else do you know about him?”

“He took over control of the family business from his father in the early thirties-not a good time for the banks of Switzerland. There was the worldwide depression, the German panic, a currency crisis in Austria that was sending shock waves through Zurich. Swiss banks were falling like dominoes. Many private banks were forced to merge with larger competitors to survive. Rolfe managed to hang on by his fingernails.”

Jacobi licked the tip of his finger and turned a page.

“Then Hitler comes to power in Germany and starts making trouble for the Jews. Jewish money and valuables flow into the private banks of Zurich -including Rolfe’s.”

“You know this to be fact?”

“Absolutely. Augustus Rolfe opened more than two hundred numbered accounts for German Jews.”

Jacobi turned over a few pages of the file.

“Here’s where the facts end and the rumors begin. In the late thirties, agents of the Gestapo start coming to Zurich. They’re looking for all the Jewish money that’s been spirited out of Germany and deposited in Swiss banks. It’s rumored that Rolfe cooperated with the Gestapo agents in violation of Swiss banking laws and revealed the existence of Jewish-held numbered accounts at his bank.”

“Why would he do that?”

“Would you like my theory?”

“Sure.”

“Because he knew that the money deposited by a few Jews was nothing compared to the riches that awaited him if he cooperated with Nazi Germany.”

“Is there evidence to suggest that he did?”

“Indeed,” Jacobi said, his eyebrows shooting up over the rims of his spectacles. “It’s a fact that Augustus Rolfe made frequent trips to Nazi Germany throughout the war.”