Former Rangers owner Craig Whyte has been detained by police in Mexico.
The 43-year-old was held on an arrest warrant in relation to an investigation into his takeover of Rangers in 2011.
The Crown Office said it would now take the necessary steps to secure his appearance at Glasgow Sheriff Court.
Four men - David Grier, Paul Clark, David Whitehouse and Gary Withey - have already appeared in court charged with fraudulent activity following the investigation into the sale of Rangers.
A Crown Office spokesman said: "We have been advised that the warrant for Craig Whyte has been executed by the Mexican authorities.
"Our International Co-operation unit, working with Police Scotland's Fugitives Unit and the National Crime Agency, will take the necessary steps to secure his appearance at Glasgow Sheriff Court to answer the warrant."
Extradition treaty
The Crown Office will now examine the extradition treaty with Mexico and establish the legal basis for extraditing Mr Whyte unless he waives his right and agrees to the extradition.
Craig Whyte took control of Rangers in May 2011 but the club went into administration in February the following year.
The men who have previously appeared in court in relation to the fraud investigation are David Grier, 53, Paul Clark, 50, and David Whitehouse, 49, who worked for Duff and Phelps - Rangers' administrators.
A fourth man, Gary Withey, 50, worked for law firm Collyer Bristow, which represented Craig Whyte before he bought Rangers from Sir David Murray for £1 in 2011.
All four made no plea or declaration at Glasgow Sheriff Court and were granted bail ahead of a future hearing.
Mr Grier, Mr Clark and Mr Whitehouse were also charged with attempting to pervert the course of justice.
A separate arrest warrant was also issued last week for Mr Whyteafter he failed to attend a hearing at the Royal Courts of Justice in London in relation to a separate legal case.
He has been sued for about £18m by Ticketus in relation to his Rangers acquisition.
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