US busting Israeli banks

Israels second largest Bank, Bank Leumi, admitted late last year to helping its American customers evade income taxes, hide assets, and launder their money back into the United States. The bank agreed to pay $130 million in fines to New York regulators and another $270 million to the federal government, and assist in an ongoing probe of other Israeli banks.

US busting Israeli banks

World Bulletin / News Desk

In article to CNBC, Sam Antar, former CFO to Crazy Eddie an electrical company in USA described how they used Bank Leumi to help evade taxes, hide assets, and launder money because of their exceptional client services and discretion.

In the article he states that Bank Leumi sent its Israeli employees to New York to assist my family in opening secret numbered accounts in Israel, ferry their skimmed cash overseas, and later helped them launder that cash back into the United States when they needed access to those funds.

Even after the U.S. government cracked down on secret bank accounts in Switzerland, Bank Leumi never stopped – in fact, it went into overdrive to attract new customers, according to a statement by New York regulators after a deal was reached. With Bank Leumi now forced to pay fines, they are required to help the Justice Department investigate other Israeli banks.

 

Last Mod: 25 Şubat 2015, 13:09
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