Israel’s Largest Bank to Pay $904M for US Tax Evasion, FIFA Money Laundering Conspiracy

Israel's Largest Bank to Pay $904M for US Tax Evasion, FIFA Money Laundering Conspiracy

Sunday, May 3, 2020 | Tag Cloud Tags: Israel, News, PLO, tax, Worthy News
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(Worthy News) – Israel’s largest bank admitted to its role in a massive US tax evasion scandal and money laundering conspiracy that will cost it more than $904 million.

According to court documents released on Thursday, employees at Bank Hapoalim B.M. (BHBM) and its wholly-owned Swiss subsidiary Bank Hapoalim Switzerland (BHS) conspired with US taxpayers to hide more than $7.6 billion in more than 5,500 secret Swiss and Israeli bank accounts.

BHS pleaded guilty to tax evasion and BHBM agreed to a three-year deferred prosecution agreement in a New York federal court. [ Source: CBN News (Read More…) ]




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