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Mizrahi Tefahot Bank to pay $195 million over U.S. tax evasion charges

Published 03/12/2019, 05:16 PM
Updated 03/12/2019, 05:20 PM
© Reuters. FILE PHOTO:  A Mizrahi-Tefahot Bank logo is seen at a branch in Jerusalem

WASHINGTON (Reuters) - Mizrahi Tefahot Bank Ltd agreed to pay $195 million for a deferred prosecution agreement after the Israeli bank admitted it had defrauded the United States, the U.S. Justice Department said on Tuesday.

© Reuters. FILE PHOTO:  A Mizrahi-Tefahot Bank logo is seen at a branch in Jerusalem

The bank engaged in schemes to hide clients' funds so they could avoid paying income taxes between 2002 and 2012, the Justice Department said.

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