A man wanted by US authorities in connection with an alleged international fraud worth more than $650 million has been arrested in Tenerife and remanded in custody pending extradition proceedings.

The suspect was found staying at a hotel on the island and was detained by the Guardia Civil following routine checks aimed at identifying fugitives and those wanted by foreign judicial authorities.

After confirming that an international arrest warrant was active, officers from the Guardia Civil's Guía de Isora unit launched an operation that led to his arrest. He was later brought before a judge, who ordered that he remain in custody while the legal process surrounding his extradition continues.

According to investigators, the man is linked to the OmegaPro case, an international operation that is being investigated by the FBI and US authorities. Prosecutors allege that the platform operated as a large-scale pyramid scheme, causing losses of more than $650 million to investors around the world.

The US Department of Justice claims OmegaPro promoted investment packages linked to financial markets and cryptocurrency assets. Investigators believe funds from victims were channelled through virtual currency accounts controlled by people connected to the organisation before being transferred elsewhere.

Spanish authorities say the man arrested in Tenerife allegedly held a senior international management role within the company. He is accused of helping to attract investors through extensive promotional campaigns, some of which reportedly featured well-known football personalities, giving the platform global visibility.

The arrest highlights the continued cooperation between Spanish and international law enforcement agencies in tracking suspects involved in large-scale financial crime.