A total of 14 people, including a senior investment adviser at Swiss banking group UBS, have been arrested as part of a probe related to tax evasion by Israelis who allegedly hold undisclosed bank accounts with UBS.
Detainees also include 12 Israelis with accounts at the bank, out of which two own a chain of medical clinics abroad.
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All the suspects have presently been released on bail.
The case has been unveiled only after an Israeli court allowed publication of the arrests and allegations following a petition by an Israeli newspaper.
However, names of the accused have not been disclosed yet.
Israel has launched a crackdown on foreign bank accounts held by its citizens following a similar move by the US, and a probe by the Israeli Tax Authority found out that thousands of Israelis have Swiss bank accounts worth hundreds of millions of euros.
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By GlobalData"It is suspected that the vast majority of the money held in the accounts is not reported to the tax authority. The investigation is still ongoing and more arrests are expected," added the tax authority.
