2 of Israel's wealthiest businessmen said arrested for massive tax evasion

Suspects, whose identities are barred from publication, allegedly withheld tax totaling hundreds of millions of dollars

Two of Israel’s wealthiest businessmen were arrested earlier this week on suspicion of large-scale tax evasion, Hebrew-language media reported Thursday.

The businessmen are suspected of withholding taxes worth hundreds of millions of dollars.

They were released Thursday after two days in custody on bonds of NIS 300,000 ($89,000) and were barred from leaving the country for six months.

Tax officials conducted searches and seized documents related to the suspects’ businesses.

The Tel Aviv Magistrate’s Court issued a gag order on the identity of the suspects and all further details of the investigation.

The suspects’ lawyer Nati Simhoni denied the charges, saying his clients were cooperating with investigators, and said he believed they will be found innocent.