The owner of a Bermudian- based international life insurance company wanted on allegations of misuse of millions of dollars of investors’ money was arrested yesterday in the Netherlands.

An international manhunt was launched for Ramesh Dusoruth, beneficial owner of St George’s Ltd, after he failed to appear in Magistrates’ Court in March to face the allegations.

He was arrested after an Interpol red notice was issued and police in Bermuda are now liaising with the Dutch authorities to have Mr Dusoruth returned to Bermuda.

Acting Detective Superintendent Nicholas Pedro said the arrest came as a result of good teamwork between Bermuda police officers and their international counterparts.

He added: “In today’s world of transnational organised crime, the ability for law enforcement to co-operate globally sends a clear message that one cannot easily hide from justice and accountability.”

Mr Dusoruth faces a charge of fraudulent inducement to deposit or invest and another of transferring criminal property.

He is also charged with three counts of transmission of false information to the Bermuda Monetary Authority.

Mr Dusoruth was known to have business interests in Cyprus, Malta and the Netherlands and has homes in London and Antwerp in Belgium.