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of Information Law, NY Pub Off Law Sec 84 et seq.
Friday, May 1, 2020
izzy halpern ,king of court street, says help the kid make
a deposit by providing down on their luck nassau otb bettors representstion yo sue ny for cash for violsting their rights secured by ny const art 1 sec 3 and to have ny pml sec 109 declared unconstitutional. real banks like the bank of ny not only wash money but do so for iran. ecoup your loss and piss off sndrew cuomo who hates anyone that foes not brlieve as he does. death to ny pml sec 109
Stop scratching on holidays Published: June 1, 2012
Off Track Betting in New York State has been racing into a crisis called shrinking revenue. Some people have spitballed a solution: Don’t close on holidays. New York State Racing Law bars racing on Christmas, Easter and Palm Sunday, and the state has ruled OTBs can’t handle action on those days, even though they could easily broadcast races from out of state. “You should be able to bet whenever you want,” said Jackson Leeds, a Nassau OTB employee who makes an occasional bet. He added some irrefutable logic: “How is the business going to make money if you’re not open to take people’s bets?” Elias Tsekerides, president of the Federation of Hellenic Societies of Greater New York, said OTB is open on Greek Orthodox Easter and Palm Sunday. “I don’t want discrimination,” Tsekerides said. “They close for the Catholics, but open for the Greek Orthodox? It’s either open for all or not open.” OTB officials have said they lose millions by closing on Palm Sunday alone, with tracks such as Gulfstream, Santa Anita, Turf Paradise and Hawthorne running. One option: OTBs could just stay open and face the consequences. New York City OTB did just that back in 2003. The handle was about $1.5 million – and OTB was fined $5,000. Easy money.
Israel’s Largest Bank Pays $874 Million in U.S. Tax Evasion Case
New York prosecutors say Bank Hapoalim hid more than $7.6 billion in Swiss and Israeli bank accounts
Bank Hapoalim BM entered into a three-year deferred-prosecution agreement, while the bank’s Swiss subsidiary, Bank Hapoalim Switzerland, pleaded guilty to tax evasion.
PHOTO: ABIR SULTAN/EUROPEAN PRESSPHOTO AGENCY
By
Rebecca Davis O’Brien
Israel’s largest bank admitted to conspiring with U.S. customers and others to hide more than $7.6 billion in secret Swiss and Israeli bank accounts and, together with a Swiss subsidiary, will pay $874 million to resolve a sprawling U.S. tax-evasion investigation.
According to court filings unsealed Thursday in Manhattan federal court, Bank Hapoalim BM entered into a three-year deferred-prosecution agreement, while the bank’s Swiss subsidiary—Bank Hapoalim Switzerland, or BHS—pleaded guilty to tax evasion. The banks admitted to helping customers set up secret accounts, shelter assets and income, and evade taxes for the period from 2002 to 2014, according to the court filings.
The $874 million in payments to federal and New York state authorities marks the second-largest recovery by the Department of Justice arising from investigations into offshore U.S. tax evasion by foreign banks, authorities said. Prosecutors said at least four senior Hapoalim executives, including two members of BHS’s board of directors, were directly involved in the tax evasion. Prosecutors said the bank initially didn’t cooperate fully with the investigation, which began in or before 2011, but has since provided assistance and taken steps to prevent misuse of its services.
Lawyers for Hapoalim and BHS didn’t immediately respond to a request for comment.
In a letter to the Tel Aviv Stock Exchange last month, the bank said it had established an independent committee headed by a former Justice of the Supreme Court of Israel to examine the processes that led to the investigations.
Hapoalim, or BHBM, has more than 2.5 million accounts. In addition to retail banking, Hapoalim offers private-banking services, including through BHS, which has headquarters in Zurich and during the time in question had branches in New York, Miami, the Cayman Islands and elsewhere.
From 2002 to 2014, prosecutors said, Hapoalim employees helped U.S. customers conceal ownership and control of assets, enabling the customers to evade U.S. tax obligations.
The sum includes $77.9 million to the Internal Revenue Service for unpaid taxes. The bank is also forfeiting $35.7 million in fees earned on undeclared accounts, and paying a $100.8 million penalty. If Hapoalim complies with the agreement, including assisting with the investigation, the Justice Department will dismiss a count of conspiracy to defraud the U.S.
BHS, the Swiss subsidiary, entered a guilty plea to the conspiracy count, and will pay a total of $402.5 million—$138.9 million to the IRS, $124.6 million in gross fees and a $139 million fine.
Separately, the New York State Department of Financial Services announced a settlement requiring Hapoalim to pay a $220 million penalty. The bank also paid $37.5 million to settle an enforcement action with the Board of Governors of the Federal Reserve System.
Hapoalim began to cooperate with the Justice Department investigation in late 2014, but its initial cooperation was “deficient, marked by an inadequate internal investigation, the failure to timely disclose relevant facts, and the provision of incomplete and, in some cases, inaccurate information and data,” according to the agreement, which was filed in federal court. For example, the Justice Department said that in 2016 it found evidence of criminal misconduct by a senior BHS executive and a board member with no assistance from Hapoalim.
Separately on Thursday, Hapoalim and BHS agreed to pay more than $30 million to resolve an investigation into the bank’s role in an international soccer bribery scheme. As part of a nonprosecution agreement with the U.S. Attorney’s office in Brooklyn, the banks admitted that bank employees conspired to launder more than $20 million in bribes and kickbacks to soccer officials at the Federation Internationale de Football Association, or FIFA, and other soccer federations.
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