Two Israeli banks have paid $137 million to draw a curtain on the expanding pursuit of tax fraud cases related to the Binetter family, the founders of the Nudie Juice business, in a weekend settlement, the Financial Review reported. Israel Discount Bank and its subsidiary, Mercantile Discount Bank, signed off on the settlement for 343 million Israeli shekels with Australian liquidator John Sheahan at 5pm on Sunday afternoon, the latest dividend in a colourful 16-year pursuit by the Australian Taxation Office which so far has realised about $210 million in tax payments, penalties and interest. Former Nudie Juice chief Andrew Binetter was part of $45 million tax settlement by Binetters which paved the way for the Israeli case. It is believed to be one of the largest tax settlements by Israeli banks for a single family client, the Binetters, whom the banks helped to hide income from the ATO through the use of back-to-back loans. Bank Hapaolim made a $US875 million settlement with the US Justice Department for similar cases last year and Mizrahi-Tefahot Bank made a $US195 million settlement in 2019, but these both involved hundreds of clients. Read more.