ONE of Britain's most wanted tax fugitives has been arrested in Cyprus.

Michael Voudouri had pled guilty at the High Court in Glasgow in relation to money laundering linked to VAT fraud but failed to appear for sentencing last March.

HM Revenue & Customs said he was estimated to have cost taxpayers £10 million.

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He was said to have been arrested at his home in northern Cyprus after allegedly using a forged passport.

He appeared in court in Nicosia on the island on Tuesday but has yet to be formally charged.

Voudouri was on a list of most wanted tax fugitives published by the UK Government last August.

His associates Richard Housley and Caroline Laing were jailed for four years and two-and-a-half years respectively.