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A Tauranga man accused of involvement in a multimillion-pound conspiracy to defraud a British bank has been denied bail because a judge believes there is a serious risk of him bolting.
Bryan Walter Archer has surrendered his New Zealand passport, but police believe the 59-year-old also has a
Chinese passport which he is likely to use to escape extradition to Britain to face charges for the £180 million ($480 million) conspiracy.
Archer's lawyer has indicated that Archer will fight the extradition order, which would see him sent to Britain to join six others - an Australian and five Chinese people - already standing trial for the fraud.
The group allegedly presented counterfeit notes to the Bank of England in denominations as large as £500,000, claiming they were early 20th century bills from a genuine source. The Tauranga District Court heard Archer made frequent visits to China which were evident by visa stamps in his New Zealand passport.
His lawyer, Tony Banbrook, said the stamps were proof Archer did not have a Chinese passport, otherwise he would have used that to enter China.
Archer denies the existence of the Chinese passport but New Zealand police said they had evidence it was legitimate, though they had not been able to find it.
Mr Banbrook denied Archer was a flight risk, saying he had made himself available to authorities from the time he learned British police wanted to question him in April.
Mr Banbrook said Archer had contacted British police and Interpol via his solicitor in Auckland, saying he would be happy to be interviewed by overseas officers in New Zealand but did not want to travel to Britain.
Judge Michael Crosbie denied Archer bail, saying: "The information provided through the police to the court suggests serious offending and the direct involvement of Mr Archer."
The New Zealand officer who arrested Archer, Detective Sergeant Darryl Brazier of Tauranga, told reporters he was unaware of any approaches by Archer to authorities.
Archer was found at a house in Tauranga on Tuesday after Interpol asked New Zealand police to search for him.
Archer, described by a friend as a "committed Christian", is scheduled to reappear in court tomorrow for an extradition decision.
Judge Crosbie said the case was "not an ordinary one" but the Extradition Act required that such matters were dealt with swiftly.