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