A former chief financial officer of a Bermudian-based reinsurance firm accused in a $1.8 million fraud scheme has been apprehended overseas, police announced yesterday.

Yuval Abraham, who worked at Hiscox, was arrested in Athens, Greece.

A police spokesman said: “He is being held in custody pending a hearing on extradition to Bermuda.

“The Bermuda Police Service relies upon and uses international law enforcement partners in cases such as this that have an international component, and would like to recognise their assistance in this matter.”

Mr Abraham faces eight counts of obtaining a money transfer by deception and nine counts of false accounting.

He is also charged with an attempt to obtain a money order by deception and one count of money laundering.