“Deutsche Bank in Israel and abroad acts in accordance with the law and strict legal advice,” the bank said in a statement. Boaz Schwartz , CEO of Deutsche Bank Israel , has been arrested over allegations of falsely reporting deals worth over ILS550 m ( $ 146 m ) since 2011 . The Israeli Tax Authority claims that the bank reported that the deals were on behalf of non - Israelis only , therefore being tax - free but actually included Israeli residents who are unable to pay taxes . The offices of Deutsche Bank were searched and evidence collected . Schwartz has been granted bail under certain restrictions .
Boaz Schwartz , CEO of Deutsche Bank Israel , has been arrested over allegations of falsely reporting deals worth over ILS550 m ( $ 146 m ) since 2011 . The Israeli Tax Authority claims that the bank reported that the deals were on behalf of non - Israelis only , therefore being tax - free but actually included Israeli residents who are unable to pay taxes . The offices of Deutsche Bank were searched and evidence collected . Schwartz has been granted bail under certain restrictions .