The suspects, lawyers from the Israeli-Arab city of Kfar Qasim, are accused of setting up dozens of dummy corporations that were used to distribute and offset fictitious invoices. Ten other suspects from Kfar Qasim and Jerusalem associated with the scheme were also arrested.

The Israel Tax Authority said that the suspects stole 850 million shekels ($234 million) from state coffers as a result.

During the searches of the suspects’ houses, police confiscated gold bullion and bulk gold, luxury cars, real estate, luxury watches, computers, a significant amount of cash and documents.

Dozens of other suspects are expected to be questioned later.

Photo: Police Spokesperson