More than 100 bank accounts and shared trading accounts were frozen as part of the investigation.

A top Australian anti-fraud official is facing charges after his son and eight friends were arrested amid raids that seized cash, luxury cars, two small planes, guns and vintage wine in a A$165 million ($123 million) tax evasion scheme, media reports say.

Police have reportedly said Australian Taxation Office deputy commissioner Michael Cranston unwittingly participated in fraud because he accessed tax office systems at his son's request.

"We're alleging that he has publicly abused his position as a public officer and senior official of the Commonwealth," Australian Federal Police deputy commissioner Leanne Close reportedly told reporters in Sydney.

"We don't believe that at this point that he had any knowledge of the actual conspiracy and the defrauding," she said.

Michael Cranston has not yet been charged but has been summoned to attend court next month in connection with possibly the biggest white-collar tax fraud in Australian history. 

Police allege that Michael's son, Adam Cranston, 30, and eight of his friends siphoned funds from legitimate payroll-processing companies to several subsidiaries, which resulted in the ATO being defrauded of A$165 million. 

Adam and his friends were arrested last week and charged with offences including fraud and money laundering. More than 100 bank accounts and shared trading accounts were frozen.

Police impounded more than 25 cars, two planes and 12 motorcycles. They also seized guns, jewels, paintings and Grange hermitage wines, one of the finest vintages in the world.