News of the arrest came in a statement Thursday from the Danish public prosecutor, who says the man will be handed back to Italy.

The statement from Morten Niels Jakobsen’s office provided few other details surrounding the arrest.

However, TradeWinds reported Friday that the man under arrest and five others had cheated the Italian navy out of EUR 7m ($8.6m).

Arrest warrants had earlier been issued by Italy’s fraud squad, the Guardia di Finanza, against the six suspects, including three navy officers.

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