Israeli Bank To Pay $874M For Helping Hide $7.6B From IRS

By Dylan Moroses (April 30, 2020, 5:39 PM EDT) -- Bank Hapoalim, Israel's largest bank, has pled guilty in a Manhattan federal court to helping U.S. clients attempt to hide roughly $7.6 billion from the IRS and will pay over $874 million for its role, the DOJ announced Thursday.

The Justice Department said Bank Hapoalim and its Swiss unit helped U.S. clients commit tax fraud and tax evasion for more than a decade. (Getty)

Under an agreement with the U.S. Department of Justice finalized last week, the bank and its Swiss subsidiary will pay U.S and New York agencies over $874 million for helping U.S. clients commit tax fraud and tax evasion...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!