A joint investigation by the Israel Tax Authority and Israel Police has uncovered a suspected scheme involving tens of millions of dollars in undisclosed cryptocurrency trading.

As part of the investigation, Adiel Miyost, 43, a resident of northern Israel, was arrested Tuesday on suspicion of tax evasion, money laundering and conspiracy to commit a crime.

According to investigation materials from the Tax Authority’s Haifa Assessing Officer for Investigations and the Economic Enforcement Unit of the Coastal District, part of the Lahav 433 division, Miyost allegedly traded cryptocurrencies on various exchanges without reporting the activity to the Tax Authority and omitted income from his personal tax returns in an effort to evade taxes.