Israeli Bank Gets Penalized $195M DOJ Offshore Tax Fraud Penalty

Israeli Bank Gets Penalized $195M DOJ Offshore Tax Fraud Penalty (Golding & Golding) Israeli Bank Gets Penalized $195M DOJ Offshore Tax Fraud Penalty The U.S. DOJ deferred prosecution agreements are starting to really bear fruit.  Recently, Mizrahi-Tefahot Bank Ltd., agreed to a penalty in the amount of $195M. Common Questions What was the Scam?  What is a Hold-Mail Agreement? What is a Deferred Prosecution Agreement? Deferred Prosecution Agreement? How is the Penalty Broken Down? Has the IRS Contacted You? Are you Under Submitting to a Disclosure in Israel What was the Scam? Like most scams, it involves greed and an intent to avoid taxes. In this particular case, the bank sent representatives to many of the large metropolitan areas, including Los Angeles amongst others — and solicited investors into the scam. The banks would advise their representatives to open up accounts under false names and execute “hold-mail agreements” for a fee that the…

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