'NY regulator seeks $300 mln from Bank Leumi in tax probe'

New York state's financial regulator is seeking more than $300 million from Bank Leumi as part of a probe of whether the Israeli bank assisted US citizens in evading taxes, according to a person familiar with the matter.

Bank Leumi, Israel's second-largest bank, has been negotiating with US authorities for months to settle an investigation of possible tax evasion by the bank's American clients.

Bank Leumi said in June it was close to a deal to pay nearly $238 million to the US Justice Department in the accord related to its Swiss unit. The bank also made provisions for the settlement, it said in August.