The independent committee that Bank Leumi (TASE: LUMI) set up to examine the affair of tax evasion in the US is delaying the release of its conclusions by at least a few weeks. In December 2014, the bank reached a settlement with the US authorities under which it agreed to pay a $400 million penalty for helping its American customers evade taxes. RELATED ARTICLES BoI issues tough report on Leumi US tax evasion affair Leumi got off easy on US tax probe Bank Leumi mulls suing Galia Maor and Eitan Raff Attorney General to probe Leumi US tax evasion Leumi agrees $400m settlement over US tax evasion The committee, headed by emeritus judge Ori Goren, was set up in February, and was supposed to publish its findings by the end of this month. The purpose of the committee is to examine whether the bank should sue former officeholders and auditors, and generally to advise on what legal action the bank should take over the events surrounding the affair. The delay in publication may be in order to see what the Bank of Israel's final report on the affair will contain, and what the Attorney General, who for several months has been examining whether to open a criminal investigation into the affair, will decide. Published by Globes [online], Israel business news - www.globes-online.com - on June 14, 2015 © Copyright of Globes Publisher Itonut (1983) Ltd. 2015
