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BOOM! ISRAEL'S LARGEST BANK SETTLES CHARGES OF CONSPIRACY TO COMMIT U.S. TAX EVASION, PAYS ALMOST $1 BILLION IN FINES 
https://www.justice.gov/usao-sdny/press-release/file/1272321/download
https://www.justice.gov/usao-sdny/press-release/file/1272321/download
OOH: Once UBS got in trouble back during the financial crisis of 2008, it agreed to stop all the money laundering and tax evasion.
But not all banks were as, um, conscientious.
But not all banks were as, um, conscientious.
Israel's largest bank knows how U.S. taxation works. But it continued to use Switzerland, Luxembourg, and Singapore to hide U.S. income from the IRS. #naughty
#naughty
Netanyahu came back to power in 2009, just as the financial crisis exploded and UBS came under scrutiny in Switzerland.
Was he unaware of Israel's largest bank doing this in the middle of the crisis?
Was he unaware of Israel's largest bank doing this in the middle of the crisis?
Ooh, Israel's largest bank was looking the other way on structured payments specifically under $10,000.
$10,000 is the threshold for "suspicious activity reports" investigated by Treasury FinCEN Death Robot of Death - a U.S. intelligence agency.
$10,000 is the threshold for "suspicious activity reports" investigated by Treasury FinCEN Death Robot of Death - a U.S. intelligence agency.
WHAT'S THIS? Israel's largest bank and a PANAMANIAN LAW FIRM?
Why, that sounds familiar!
Why, that sounds familiar!
Ah. The Panama Papers. Mossack Fonseca. "Among the some 600 Israeli companies found in the documents are Bank Leumi and Bank Hapoalim."
Hapoalim is the old name for BHS. https://www.jta.org/2016/04/04/israel/hundreds-of-israeli-firms-individuals-among-elites-listed-in-panama-papers-leak
Hapoalim is the old name for BHS. https://www.jta.org/2016/04/04/israel/hundreds-of-israeli-firms-individuals-among-elites-listed-in-panama-papers-leak
After UBS got popped for this practicing (a Mob money laundering dream) BHS agreed to not form any more foreign offshore companies for U.S.-related* clients.
It appears to have just used a subsidiary anyway.
*"-related" is even more interesting...
It appears to have just used a subsidiary anyway.
*"-related" is even more interesting...
This can be summed up with: Israel's biggest bank was very naughty and did not have much respect for the IRS or Treasury FinCEN Death Robot of Death.
And FinCEN...deserves respect.
And FinCEN...deserves respect.
Again, this is VERY NAUGHTY, to put it succinctly.
And...who were these tax evading U.S. citizens? Anyone we've, perhaps, heard of?
And...who were these tax evading U.S. citizens? Anyone we've, perhaps, heard of?
Mizrahi Tefahot Bank got nailed for this exact same behavior in 2009. BHS' Miami subsidiaries...didn't really follow the rules laid out.
Mizrahi Bank was re-prosecuted one year ago for breaking this agreement.
Mizrahi Bank was re-prosecuted one year ago for breaking this agreement.
Whoops! Mizrahi, even after the 2009 settlement, continued to crime out of Los Angeles, London, the Caymans, and Switzerland.
All while Netanyahu was Prime Minister. https://www.justice.gov/opa/pr/mizrahi-tefahot-bank-ltd-admits-its-employees-helped-ustaxpayers-conceal-income-and-assets
All while Netanyahu was Prime Minister.
https://www.justice.gov/opa/pr/mizrahi-tefahot-bank-ltd-admits-its-employees-helped-ustaxpayers-conceal-income-and-assets
Um. Guys. This looks distinctly like the senior management of Israel's largest bank is implicated in a RICO case with U.S. citizens.
This don't look like a parking ticket.
This don't look like a parking ticket.
Multiple nations. Senior executives. $2 MILLION in checks just under the FinCEN trigger of $10,000 (WHICH IS ALSO A TRIGGER, IDIOTS). And hiding checks in fucking greeting cards.
If this ain't RICO, I'm a platypus.
If this ain't RICO, I'm a platypus.
It wasn't Mobbed-up enough. We needed a Swiss jewelry store and a Swiss rug merchant! Classic!
As if perhaps the diamond trade isn't enough of a tell, perhaps this reminder about Paulie One-Sock will assure you: MOB MOB MOB MOB MOB
They love rugs! What can you say? https://www.washingtonexaminer.com/weekly-standard/paul-manafort-spent-1-million-on-rugs-why
They love rugs! What can you say? https://www.washingtonexaminer.com/weekly-standard/paul-manafort-spent-1-million-on-rugs-why
HERE WE GO: Russian and post-Soviet state asset transfers through Israel to a United States citizen using Israel's largest bank. NOW we're getting to Funtown!
Sneaking $150 MILLION in Georgian and maybe Russian assets past the Money Laundering Committee "because reasons"...well, it looks bad. Even 18 years later.
Looks like Israel's largest bank took a whole lot of clients off the then-busted Swiss UBS and other banks in the same hot water.
And they got a pass. Until now.
And they got a pass. Until now.
You start to wonder how much of this hidden money could be taxed to fund, say, our response to COVID-19. Or anything. Since they're illegally evading U.S. taxes. 
