Zionist Israeli bank fined over tax-evasion

An Israeli bank has been fined USD 400 million for aiding and assisting American taxpayers to evade their taxes.

Bank Leumi, Israel’s second largest bank, will pay as much as USD 270 million to the US government and USD 130 million to the US State Department.

“Bank Leumi employees engaged in a series of egregious schemes – including creating complex, sham loan arrangements – to help its US clients shirk their responsibility to pay taxes,” the state department’s Superintendent Benjamin Lawsky said in a statement.

“What’s worse, when certain Swiss banks began to put the brakes on this type of misconduct, Bank Leumi instead hit the accelerator even harder – viewing it as a ‘golden opportunity’ to pick up new business,” Lawsky added.

The US Department of Justice says the Israeli bank aided the American taxpayers to hide their assets in Israel, Switzerland, and Luxembourg from 2000 to 2011.

The Israeli bank has admitted to its violations, agreed to pay the hefty fines, and sacked some of its senior employees.