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...

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