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Ex-Mizrahi Octogenarian Banker Acquitted at Tax Trial

A retired senior vice president at Israeli-based Mizrahi Tefahot Bank Ltd. was acquitted in Los Angeles federal court on charges he helped U.S. customers conceal their assets from the Internal Revenue Service.

Jurors deliberated four hours yesterday before clearing Shokrollah Baravarian, 82, of conspiring to defraud the U.S. and helping Mizrahi clients prepare false tax returns. Prosecutors claimed Baravarian helped clients who opened accounts in Israel, didn’t declare them to the IRS and accessed money through loans from the Los Angeles branch.