Violation Tracker Individual Record

Company: 
Bank Leumi
Current Parent Company: 
Bank Leumi
Penalty: 
$130,000,000
Year: 
2014
Date: 
December 22, 2014
Offense Group: 
financial offenses
Primary Offense: 
tax violations
Violation Description: 

Bank Leumi agreed to pay $130 million to the New York State Department of Financial Services, move to terminate and ban individual senior employees who engaged in misconduct, and admit its violations of law for conducting an illegal cross-border scheme to assist U.S. clients in evading federal and state taxes. The bank also resolved a related criminal case brought by the U.S. Justice Department; see the Violation Tracker entry at https://violationtracker.goodjobsfirst.org/violation-tracker/-bank-leumi...

Level of Government: 
state
Action Type: 
agency action
Agency: 
New York Department of Financial Services
Civil or Criminal Case: 
civil
Facility State: 
New York
HQ Country of Parent: 
Israel
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.