The head of a crime organization in the south of the country and 35 of his associates have been arrested on suspicion of running a massive money laundering operation worth a half a billion shekels (approximately $150 million).
According to a report by Channel 13 news on Friday, the network headed by Benny Shlomo used fictitious tax receipts to launder the money.
In a series of raids carried out earlier this week, hundreds of police officers raided the homes of dozens of suspects in the center and south of the country as well as in the West Bank.
During the raids, police seized safes, large amounts of cash, jewelry, luxury vehicles and more.
Police also closed down a currency exchange business in the southern town of Netivot that was believed to serve as the center of the money laundering operation.
Shlomo was arrested earlier this month on suspicion of the attempted murder of a rival after a pipe bomb attached to a car exploded in the coastal city of Ashkelon, lightly wounding the occupant.
The bombing is thought to be the latest salvo in a feud between Shlomo and his former associate, crime boss Shalom Domrani.