Maltese businessman wanted in Sweden released on bail

A businessman fighting his extradition to Sweden, where he is wanted to face charges of fraud, tax evasion and money laundering, has been released on bail after spending a week under arrest.

Mohan (also known as Michael) Bharwani, 57, from Sliema, was arrested last week on the strength of a European Arrest Warrant issued by the Swedish authorities. 

He was one of over 180 people targeted by a coordinated and complex investigation by the police in Albania, Austria, Cyprus, Croatia, Czechia, Estonia, Germany, Hungary, Italy, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia, Sweden and the United Kingdom into large-scale VAT fraud estimated to have defrauded an amount in the region of €195 million. 

The arrests the suspected organisers of a complex VAT fraud scheme, which allowed them to defraud up to €195 million.

Bharwani was remanded in custody, having refused to consent to being transferred into the custody of the Swedish authorities.
Lawyers Stefano Filletti, Giannella DeMarco and Maurice Meli, who are assisting Bharwani, subsequently filed a bail application which was accepted by Magistrate Leonard Caruana earlier today.

He was released from arrest, on condition that he attend all court sittings, refrain from travelling or even approaching the coast and airport. Bharwani is also required to sign a bail book twice, every day and observe a curfew. Bail was set at €100,000: a €40,000 deposit and a personal guarantee of €60,000, also requiring additional third party guarantees from four of his family members, amounting to another €25,000.