According to Trib Live “more than half the world’s money passes almost undetected through a series of financial black holes that shelter it from not only the tax collector but form shareholders, partners and wives.”

Bank Leumi is the second largest bank in Israel. The bank allegedly helped American investors avoid their income tax obligations by structuring sham loan arrangements with investors. The “loan” arrangements would allow investors to avoid paying the amount of taxes that they owe to the U.S. government, but they would still have access to their funds.