Jun.02, 2010, Source: Associated Press

WARSAW, Poland — U.S. officials say an American fugitive wanted for money laundering and other financial fraud has been arrested in Poland.

The U.S. Embassy said Wednesday that Polish police arrested Alexsander Efrosman, a businessman from Staten Island, New York, in Krakow last weekend.

The U.S. Commodity Futures Trading Commission said in a complaint filed in 2005 that Efrosman, who also goes by Alex Besser, stole about $5 million from customers of two fraudulent hedge funds that he claimed to manage, Century Maxim Fund, Inc. and AJR Capital Inc.

The commission says Efrosman allegedly provided customers with fictitious financial statements for trades that never occurred, and that those faked statements were used to solicit new customers.