March 12, 2019 / 9:09 PM / 7 months ago

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

WASHINGTON, March 12 (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.

The bank engaged in schemes to hide clients’ funds so they could avoid paying income taxes between 2002 and 2012, the Justice Department said. (Reporting by Makini Brice)

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