After a fortnight long manhunt, John Deuss, owner of First Curacao International Bank (FCIB) has been arrested, having been apprehended on the sunny island of Bermuda.
Detectives have been hunting the millionaire oil tycoon on suspicion of money laundering, handling stolen property, and being in charge of a criminal organisation - since the warrant for his arrest was issued on October 2nd.
Deuss was arrested on Friday night, and is due to appear in court shortly to decide whether he'll be bailed or released.
There is some doubt as to whether he will be extradited back to Holland. There will be a separate hearing to decide if he'll go back once Dutch authorities have provided the relevant paperwork, although Deuss's lawyers will argue that his arrest is unlawful as there is no extradition treaty between Bermuda and Holland.
It would be up to the magistrates to decide if there was enough evidence against Deuss, who denies any wrongdoing, to send him back to Holland to face charges.
FCIB was investigated earlier this year following allegations of carousel fraud, and a number of traders accounts were closed, and last week were put into administration.
The Central Bank of the Netherlands Antilles will now take over management, and will have the authority to act on behalf of FCIB. The Central Bank’s tasks and obligations will be to collect in all of the assets of FCIB and to pay its account holders. Ultimately FCIB will be wound up.
It appears that the assets of the bank are intact and there will be sufficient funds to reimburse account holders. A committee will soon be formed to begin returning funds to traders, although non-telecoms and CPU traders will be dealt with first.
Telecom traders that wish to have their money released must produce a certificate from an auditor together with a letter from an appropriate authority that they are not suspected of illegal activities.
Deuss was arrested on Friday night, and is due to appear in court shortly to decide whether he'll be bailed or released.
There is some doubt as to whether he will be extradited back to Holland. There will be a separate hearing to decide if he'll go back once Dutch authorities have provided the relevant paperwork, although Deuss's lawyers will argue that his arrest is unlawful as there is no extradition treaty between Bermuda and Holland.
It would be up to the magistrates to decide if there was enough evidence against Deuss, who denies any wrongdoing, to send him back to Holland to face charges.
FCIB was investigated earlier this year following allegations of carousel fraud, and a number of traders accounts were closed, and last week were put into administration.
The Central Bank of the Netherlands Antilles will now take over management, and will have the authority to act on behalf of FCIB. The Central Bank’s tasks and obligations will be to collect in all of the assets of FCIB and to pay its account holders. Ultimately FCIB will be wound up.
It appears that the assets of the bank are intact and there will be sufficient funds to reimburse account holders. A committee will soon be formed to begin returning funds to traders, although non-telecoms and CPU traders will be dealt with first.
Telecom traders that wish to have their money released must produce a certificate from an auditor together with a letter from an appropriate authority that they are not suspected of illegal activities.