John Deuss has gone on trial in the Netherlands more than six years after he was arrested in Bermuda.

Amsterdam daily Financieele Dagblad (FD) reports that Dutch prosecutors accuse Mr Deuss and his First Curacao International Bank (FCIB) of illegal banking, membership of a criminal organisation and violating the report obligation for unusual financial transactions, while Mr Deuss is accused of money laundering.

Mr Deuss is standing trial in an Arnhem court together with his sister. Eighteen session days are planned.

Mr Deuss was arrested in Bermuda in 2006. He was released after paying 2.5 million euros on security money. Shortly afterwards, Dutch police raided his castle in Berg en Dal, the Netherlands.

Mr Deuss was a longtime resident of Bermuda and lived in Smith’s parish.

Magistrate Khamisi Tokunbo issued a warrant for his arrest on September 28, 2006, acting on ‘Information for an Extradictable Offence’.

He was arrested on October 13, 2006 and released on bail three days later, after consenting to voluntary extradition. He surrendered himself to the Netherlands authorities six days later.

On December 29, 2006, he was then released on bail and returned to reside in Bermuda.

He then launched a civil appeal against his arrest, arguing Mr Tokunbo was wrong to issue a provisional warrant at the request of Dutch prosecutors.

The Supreme Court and Court of Appeal in Bermuda however, rejected his claim. The case was subsequently referred to the Privy Council to be heard by British Law Lords Phillips, Scott, Brown, Mance and Neuberger. The Privy Council turned down Mr Deuss’s appeal that his arrest in Bermuda was unlawful.

Mr Deuss made his fortune through an oil trading company he set up in the 1970s in Bermuda. He is the former chairman of Bermuda Commercial Bank, but stepped down from that role in October 2006.