Police arrest 29 accused of massive billion shekel fraud

Police say that they have arrested 29 people accused of swindling the state out of more than NIS 1 billion ($300 million)

The suspects, including a senior official at a major bank, are believed to have issued fictitious receipts in the construction industry.

The Walla news site says two heads of a crime family were arrested in Spain.

Close-up of Israeli currency, Jerusalem. (Orel Cohen/Flash90)

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