One of the UK's 'most wanted' criminals, Ronald William Priestley, 69, was arrested in Marbella on Wednesday afternoon in connection with £4.25m of currency counterfeiting offences.

Leeds-born Priestley fled Britain in 2005 after failing to answer bail at Leeds Crown Court on charges of manufacturing false £20 banknotes with a face value of £4.25m.

In February 2006, he was convicted in his absence of the offences and sentenced to eight years in jail.  A search of his home in Darlaston at the time of his arrest found remainders of very high quality forged £20 notes in an incinerator.

Priestley is the 25th person to be arrested under Operation Captura, an initiative to catch criminals wanted in the UK who are on the run in Spain.   His photo had been featured on a number of British websites and lists of 'most wanted' criminals.

He was detained by officers from the National Police under a European Arrest Warrant and could face charges in Britain within ten days.

Priestley, who is wanted by West Yorkshire Police, was featured in the first appeals made under Operation Captura in October 2006, a Crimestoppers spokeswoman said.

Robbie Bulloch, justice and home affairs attache at the British Embassy in Madrid, said: "This arrest is an important reminder that large-scale fraud is a serious offence which does harm ordinary people.

"Thanks to the great public response to the Captura campaign, the pressure on criminals on the run in Spain is stronger than ever."

Crimestoppers' founder and chairman, Lord Ashcroft said: "The fact is that half the criminals who have been featured in Operation Captura have already been caught.

"Therefore my message to the rest of them, still on the run, is that they should put their affairs in order and find a tenant for their villas, because there's a good chance they will be soon on their way home."