Hot Off the Press: Israel’s Three Largest Banks Pay Hundreds Of Millions In Fines For Helping US Citizens Evade Taxes | WHAT REALLY HAPPENED


Hot Off the Press: Israel’s Three Largest Banks Pay Hundreds Of Millions In Fines For Helping US Citizens Evade Taxes

Following a few mild words of dissent by Congresswoman Ilhan Omar, the US House of Representatives was almost united in affirming the special relationship between Israel and the US. See, for ex. So how is “our most reliable and most important ally” treating us? If ‘our' includes the US treasury, the answer is that Israel’s banks have been accused of and have admitted to actively colluding with wealthy US taxpayers to avoid US taxes.

On March 12, Israel’s third largest bank, Mizrahi Tefahot, agreed to pay $195 million to the United States to settle charges that the bank knowingly aided tax evasion by US citizens from 2002 until 2012.

Israel’s largest bank, Leumi paid a $400 million dollar fine for similar “criminal activity” that spanned the period from at least 2000 to 2011. Hapoalim, Israel’s second largest bank is presently negotiating a settlement with the US Justice Department. The total settlement from all three banks will amount to over $1 billion.

Webmaster's Commentary: 

"Settlement" -> "A piece of the action."

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