Israel Police probing Leumi US money laundering affair

Leumi photos:  Meir Meiri Yossi Cohen Moshe Shai

Former Bank Leumi executives Galia Maor, Eitan Raff, and Zvi Itzkovich are among those under investigation.

Israel Police is conducting an investigation into the affair of money laundering at Bank Leumi (TASE: LUMI) in the US.

Those under investigation include former Bank Leumi senior managers, among them former CEO Galia Maor, Eitan Raff, and Zvi Itzkovich. The existence of the investigation, which had been covert up to now, was revealed by Kan-Israel Broadcasting Corporation reporter Moti Gilat.

The background to the investigation is the sum of NIS 1.3 billion that Bank Leumi paid to the authorities in the US after admitting that it had assisted US customers in evading tax. Former Attorney General Yehuda Weinstein said in the past that he was considering opening a criminal investigation into the affair, but his decision on the matter was not made public.

Published by Globes [online], Israel business news - www.globes-online.com - on August 27, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Leumi photos:  Meir Meiri Yossi Cohen Moshe Shai
Leumi photos: Meir Meiri Yossi Cohen Moshe Shai
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