Posts Tagged With DPA

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Lumber Liquidators Enters into Corporate Resolution for Securities Fraud and Agrees to Pay $33 Million Penalty

On March 12, 2019, Lumber Liquidators Holdings Inc. entered into a deferred prosecution agreement with DOJ and agreed to pay $33 million for filing materially false and misleading statements to investors based on its compliance with formaldehyde regulations.  According to the DPA, in 2014, U.S. flooring suppliers notified the company that its Chinese laminate products were emitting high levels of formaldehyde.  Despite visiting the Chinese laminate supplier and learning that the supplier could not demonstrate
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Mizrahi-Tefahot Bank LTD. Admits Its Employees Helped U.S. Taxpayers Conceal Income and Assets

On March 12, 2019, Mizrahi-Tefahot Bank Ltd. (“Mizrahi-Tefahot”), one of Israel’s largest banks, entered into a deferred prosecution agreement (“DPA”) with DOJ to settle a cross-border tax investigation.  Mizrahi-Tefahot admitted that, from 2002 until 2012, its employees helped U.S. customers evade U.S. taxes by concealing ownership and control of assets at the bank.  As part of the DPA, Mizrahi-Tefahot agreed to pay $195 million, which included restitution to the United States, disgorgement of fees paid
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