Two solicitors from a well-known Dublin law firm have been suspended from practising for one year by the High Court.

The solicitors, whose main clients were health boards, were suspended because of multiple and serious regulation breaches, including tax evasion.

Colm Carroll and Henry Colley, who practised under the name of Roger Greene & Sons, hid tens of millions of euro, received as fees from their clients, in a secret bank account to facilitate tax evasion.

As well as being suspended for a year, they will each also be restricted for a further three years to practising only as assistant solicitors under supervision. They must also pay €50,000 each to the solicitors' compensation fund.

The Court was told €32m was lodged into a secret bank account at Ulster Bank on O'Connell Street over a period of three-and-a-half years. A hundred transactions were made on the account over that period but no records were kept. The court heard this was done to facilitate tax evasion.

The court was also told the men then deliberately deceived and frustrated a law society investigation into the practice.

However, the court heard that no money is missing and no money is owed to anyone as a result of the men's actions.

The two solicitors have also made settlements with the revenue commissioners.

Lawyers for the Law Society had asked the High Court to strike off the two solicitors, but Mr Justice Liam McKechnie ruled that the year's suspension was sufficient to maintain public confidence and the good name of the profession.

The judge said the main factor influencing his decision was the fact that no money had been found to be owed.