A convicted Australian fraudster Peter Foster is due to appear in an Australian court today to face money laundering charges allegedly committed against the Bank of Federated States of Micronesia.
The Sydney Morning Herald reports that the Australian will appear in the Queensland Supreme Court to seek bail after being remanded in custody for six weeks.
Magistrate Jim Herlihy earlier refused Mr Foster bail on the grounds he was an unacceptable flight risk.
Mr Foster was caught by police in a dawn raid on a property in Vanuatu after arriving in the country illegally in January.
He had been on the run from Fiji authorities and was later taken to Australia after serving a short jail sentence for illegally entering Vanuatu.
The 44-year old is accused of forging documents to fraudulently obtain money - beleived to be more than 160-thousand US dollars from the Bank of Federated States of Micronesia.