As former executives at Bank Leumi face criminal investigation over the bank’s alleged involvement in helping customers of its U.S. branch evade taxes, two other Israeli banks are looking on uneasily – Bank Hapoalim and Mizrahi Tefahot.
Attorney General Avichai Mandelblit has ordered police to open an investigation against three former Bank Leumi executives alleged to have aided US customers in tax evasion, media reports said.
Israel has launched a probe into companies and individuals exposed by the “Panama Papers” data leak to have holdings in offshore accounts.
Some 600 Israeli companies and 850 Israeli shareholders are listed in the leaked documents of Panamanian law firm Mossack Fonseca, a leader in creating shell companies that often serve to conceal ownership of assets.