Dutch businessman John Deuss could spend Christmas behind bars after a judge in his homeland ordered that he be remanded in custody for another 90 days.

Lawyers acting for the multi-millionaire oil tycoon and banker, who has an office in Flatts, are understood to be planning to appeal the decision which was made in a court in the Netherlands last Thursday morning.

Mr. Deuss, 64, the former chairman of Bermuda Commercial Bank (BCB), was voluntarily extradited from the Island to Holland on October 19 and was arrested on his arrival there.

He is being questioned by prosecutors in connection with an international tax scam known as carousel fraud which robs European governments of billions of dollars each year.

Fraudulent traders are suspected of having stashed hundreds of millions of dollars in illegal tax gains in accounts at his Caribbean-based First Cura|0xe7|ao International Bank (FCIB), which is the largest shareholder in BCB.

A warrant issued for Mr. Deuss’ arrest listed allegations of money laundering, handling stolen property and being in charge of a criminal organisation. He denies any wrongdoing.