Joao Vale e Azevedo, 51, attended Belgravia police station by appointment this morning and was arrested by the Metropolitan Police's extradition unit, Scotland Yard said.

Vale e Azevedo, a Portuguese national living in Wilton Place, in London's exclusive Knightsbridge area, was held under an EU arrest warrant issued by the Portuguese authorities in connection with a fraud investigation.

He will appear at City of Westminster Magistrates' Court in custody today.

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The case was adjourned.

Vale e Azevedo will appear before the court again on July 25.