Israeli bank Hapoalim has been fined nearly $875 million (CHF849 million) by the United States for hiding $7.6 billion of undeclared assets in Swiss and Israeli accounts. It is one of the largest penalties imposed during the long-running US tax evasion probe into the Swiss banking system.
Hapoalim was also fined an additional $30 million by the US Department of Justice (DoJ) for laundering bribes related to corruption at world football’s governing body FIFA, which is headquarted in Zurich.
In the tax evasion case, Israel’s largest bank, and its Swiss subsidiary, admitted to “not only failing to prevent but actively assisting US customers to set up secret accounts, to shelter assets and income, and to evade taxes,” said US attorney Geoffrey S. Berman of the Southern District of New York
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Replying blind. Saving Isreal for last!