Former Polly Peck tycoon Asil Nadir has been released from custody and vowed to issue a writ for wrongful arrest.
The 69-year-old, who is on bail and faces a multimillion-pound theft trial next year, was arrested at his home for allegedly breaching a midnight to 6am curfew that was part of his bail terms.
But he emerged from Charing Cross police station in London without being charged and with a police apology.
Speaking on the police station steps, Nadir said: "Unfortunately, I have been a victim of an unlawful arrest, claiming that I had broken my bail conditions. That was not the case.
"I have been released with an apology but I am hoping that this sort of unlawful behaviour, as I have claimed for many years, does not take place in this country. It's such a great shame for this country."
Nadir, supported by his 26-year-old wife Nur and barrister William Clegg QC, went on: "But anyway, I have been released with an apology.
"I was visited in the house by police officers and told I had broken my bail conditions. As you know, I have a twelve to six condition to be in my house.
"I was in my house with several witnesses, CCTV cameras in my house, and I have never broken this bail.
"But they said that I had broken it, which was not the case, but now we have been told the tagging machine and everything showed that I was in the house as I had said.
"We are taking, on Monday morning first thing, we are issuing a writ, taking proceedings against the people that have created this most unfortunate situation."
Former Polly Peck tycoon Asil Nadir has been released from custody and vowed to issue a writ for wrongful arrest.
The 69-year-old, who is on bail and faces a multimillion-pound theft trial next year, was arrested at his home for allegedly breaching a midnight to 6am curfew that was part of his bail terms.
But he emerged from Charing Cross police station in London without being charged and with a police apology.
Speaking on the police station steps, Nadir said: "Unfortunately, I have been a victim of an unlawful arrest, claiming that I had broken my bail conditions. That was not the case.
"I have been released with an apology but I am hoping that this sort of unlawful behaviour, as I have claimed for many years, does not take place in this country. It's such a great shame for this country."
Nadir, supported by his 26-year-old wife Nur and barrister William Clegg QC, went on: "But anyway, I have been released with an apology.
"I was visited in the house by police officers and told I had broken my bail conditions. As you know, I have a twelve to six condition to be in my house.
"I was in my house with several witnesses, CCTV cameras in my house, and I have never broken this bail.
"But they said that I had broken it, which was not the case, but now we have been told the tagging machine and everything showed that I was in the house as I had said.
"We are taking, on Monday morning first thing, we are issuing a writ, taking proceedings against the people that have created this most unfortunate situation."