Israel's Hapoalim set to pay $870m to settle US tax probes

Pedro Gonçalves
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Israel's Hapoalim set to pay $870m to settle US tax probes

Bank Hapoalim is set to pay US government agencies $870m (NIS 3.11bn) to settle the two international investigations in which it has been involved.  The bank, Israel's biggest lender, was accused of helping US clients evade taxes. The investigation was carried out by the US Department of Justice, the New York Department of Financial Services and other US authorities. Bank Hapoalim said it agreed to a deferred prosecution agreement. The bank said in a regulatory filing it will increase i...

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