Authorities in Israel have arrested 14 people, including a senior UBS investment advisor in a probe into Israelis allegedly holding undisclosed bank accounts with UBS.

Authorities in Israel have arrested 14 people, including a senior UBS investment advisor, in a probe into Israelis allegedly holding undisclosed bank accounts with UBS, according to Reuters, citing the country’s tax authority.

All 14 had been released on bail soon after their arrests, the news service said.

The UBS advisor wasn’t named in the report.

In addition to this person who was arrested in June in Tel Aviv, some 12 Israelis with accounts at the Swiss bank had also been arrested, including two suspects who own a chain of health clinics abroad, the report said. An accountant for the clinics was also arrested.

An investigation is continuing and there have as yet been no indictments, the report said.

"There are media reports about ongoing tax investigations of Israeli citizens by the Israeli Tax Authorities. UBS - neither UBS AG nor UBS Israel - is not subject to these investigations. We have no further comment on this," UBS was quoted as saying in a statement.