Jeffrey Bloor, 41, is wanted by Sussex Police. He is suspected of money laundering and conspiracy to defraud.
Detectives believe that from April 2003 to February 2008 he was involved in a horse racing tipping scam and advance fee fraud linked to the breeding of racehorses.
The National Crime Agency said today (Friday 11 April): “A betting brochure was produced and distributed to known gamblers whose details had been obtained from mailing lists.
“The brochure advertised campaigns guaranteeing large financial returns if you paid a membership fee.
“There was also the offer of large returns for blood stocks which never existed.
“Bloor allegedly operated the company bank account and received money from investors that was distributed to his co-conspirators.
“This amounted to millions of pounds.”
Bloor was described as a heavily built white man with blue eyes and ginger hair, 5ft 6in tall and with a surgical scar on the left side of his abdomen.
He is a new addition to a list of 11 fugitives who may be hiding from justice in Cyprus.
A European arrest warrant was issued in October 2012.
Anyoone with information about Bloor and his whereabouts can call Crimestoppers anonymously on 0800 555111.