Israel’s largest bank agrees to $874mn fine for conspiring to help US citizens hide $7.6 BILLION in assets overseas ...United Arab Emirates

Russia Today - Economy
Israel’s largest bank agrees to $874mn fine for conspiring to help US citizens hide $7.6 BILLION in assets overseas
source : Russia Today ( United Arab Emirates ) () 86
The top bank in Israel will hand over just shy of $900 million to the US Treasury after it was implicated in a tax evasion scheme, helping Americans to hide billions of dollars in wealth in thousands of foreign accounts. Bank Hapoalim BM, as well as its Swiss subsidiary, agreed to pay the damages after submitting a guilty plea over allegations that it concealed some $7.6 billion in over 5,500 secret Swiss and Israeli bank accounts, the Department of Justice announced on Thursday. The $874 million sum is the second-largest recovered by the Treasury in an offshore tax evasion case since 2008, the DOJ added. “Today, Bank Hapoalim is being

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