Thai police nab Briton over '$150m fraud'

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A British man wanted by Interpol for allegedly embezzling around $150 million from his employer in Dubai has been arrested in Bangkok, Thai police said today.

Michael Bryan Smith, 43, fled the United Arab Emirates eight months ago after his employer discovered company money was missing and said Smith had put it into his own account, Police Colonel Somprasong Yen-tuam told Reuters.

"He did not resist arrest. We will start his extradition process as soon as possible," Somprasong said, adding Smith was arrested late yesterday.