ISRAELI BANK BANK HAPOALIM TO PAY $874 MILLION IN TAX EVASION SCANDAL AND $30 MILLION FOR LAUNDERING BRIBES, KICKBACKS TO CORRUPT FIFA OFFICIALS

2 news releases from the US DoJ advised that Israel’s largest bank, Bank Hapoalim, had –

  1. admitted to conspiring with US taxpayers to hide assets and income in offshore accounts. It has entered into a deferred prosecution agreement for criminal misconduct, agreeing to pay nearly $875 million, for hiding more than $7.6 billion in more than 5,500 secret Swiss and Israeli bank accounts.  This involved Bank Hapoalim B.M., and Bank Hapoalim (Switzerland) Ltd, its Swiss subsidiary.
  2. Bank Hapoalim B.M., and its wholly owned subsidiary, Hapoalim (Switzerland) Ltd, also agreed to forfeit $20,733,322 and pay a fine of $9,329,995 to resolve an investigation into their involvement in a money laundering conspiracy that fuelled an international soccer bribery scheme. For nearly 5 years, the Bank’s employees used the US financial system to launder tens of millions of dollars in bribe payments to corrupt soccer officials in multiple countries

https://www.justice.gov/opa/pr/israel-s-largest-bank-bank-hapoalim-admits-conspiring-us-taxpayers-hide-assets-and-income

https://www.justice.gov/opa/pr/bank-hapoalim-agrees-pay-more-30-million-its-role-fifa-money-laundering-conspiracy

 

If you’d like to help to contribute to the cost of the new laptop and desktop I have had to acquire, now that I am 5,000 miles away from my originals – https://www.buymeacoffee.com/KoIvM842y

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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