Bank Leumi Le-Israel Ltd. said it’s in advanced talks to settle a U.S. investigation into whether it helped Americans evade taxes, and two people familiar with the matter said the deal won’t include a guilty plea.
Bank Leumi Le-Israel Ltd. , the country’s biggest lender, won a U.K. lawsuit against ex-New York Stock Exchange board member Linda Joy Wachner over 13.4 million euros ($19 million) she lost in foreign-exchange trades.
Bank Leumi Le-Israel Ltd. said it’s in advanced talks to settle a U.S. investigation into whether it helped Americans evade taxes and has set aside 950 million shekels ($275 million) to resolve the matter.
Finance Minister Yair Lapid said Bank Leumi Le-Israel Ltd. should curb salaries and bonuses for its most senior managers as industry executives “cannot behave as if the party goes on” when most Israelis can’t make ends meet.
Dozens of U.S. citizens who used offshore accounts to avoid taxes have helped the federal government in a criminal investigation of two Israeli banks, Bank Leumi Le-Israel Ltd. and Mizrahi Tefahot Bank Ltd., two people familiar with the matter said.