Dutch businessman John Deuss is likely to be released from custody in Holland today — but the former chairman of Bermuda Commercial Bank will not be returning to Bermuda yet.

The multi-millionaire, who has an office in Flatts, was voluntarily extradited from Bermuda to Holland on October 19 where he has been questioned by prosecutors in connection with an international tax scam.

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.

Mr. Deuss, 64, was arrested upon his arrival in the Netherlands and has been held on remand since. But according to press reports, both his lawyer Jan Sj|0xf6|crona and public prosecutor Jan Hendrik Biemond pleaded for his release during a court hearing in Arnhem yesterday.

The reports quoted the defence lawyer as saying that Deuss had not been questioned for over a month - with the prosecutor adding that his custody was no longer necessary for the investigation.

However, Mr. Biemond demanded that Deuss should have his passport withheld and that he should remain in the Netherlands. He was the subject of a manhunt in Bermuda prior to him being located and extradited.

The judge is due to make a decision on the release today.