Israeli filmmaker and producer Yoram Globus was arrested on the suspicion of concealing income in the amount of NIS 26 million, Israel Radio reported Wednesday morning.

According to the report, Globus is suspected of not reporting taxes on income from two companies he owned, one in Israel and one abroad. The alleged transgression dates back eight years ago. 

Globus was brought to the Tel Aviv Magistrate's Court Tuesday night where he was released on NIS two million in bail and is banned from leaving the country until the end of the investigation.