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Israeli lender Mizrahi Tefahot to pay $195m to settle US tax evasion probe

Mar 13, 2019 - Marketline Newswire

Mizrahi Tefahot Bank, one of the largest lenders in Israel, has agreed to pay in $195m in penalty to settle an ongoing five-year investigation in the US.

The bank admitted that it helped its US clients to conceal their income and evade taxes.Mizrahi Tefahot fined: DetailsThe bank, along with its subsidiaries, has entered into a deferred prosecution agreement (DPA) with the US Department of Justice to settle the case.Mizrahi-Tefahot admitted that between 2002 and 2012 it was involved in sch...