Bernie Madoff, Israeli Money Laundering

Wayne Madsen has proposed that Bernie Madoff laundered embezzled money through Israel. (See January 12, 2009 -- Is Madoff the tip of a money laundering ... or Is Madoff the tip of a money laundering pyramid in Israel?)

Madsen mentions that longtime Madoff associate and booster Ezra Merkin recently acquired Bank Leumi, the National Bank of Israel.

While a bank is useful in a money-laundering scheme and Israel's general lack of financial transparency is really helpful, you really need businesses, whose profits are not so easily tied to its costs and whose revenue sources are cash or hard to trace.

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