An Englishman living in west Cork is being sought by the US authorities on charges of "wire fraud" involving more than $26 million (€24.8 million) from US banks, the High Court was told yesterday.

Mr Albert John Oldbridge (72), of Caharagh, Drimoleague, Co Cork, is fighting extradition proceedings in the Dublin District Court brought on foot of a warrant from the US authorities.

After a two-day hearing and in response to a request from the Attorney General, District Justice Gerard Haughton decided to ask the High Court to rule whether there is an offence in Irish law which corresponds with the alleged US offence for which the extradition is sought.

Under Irish law, a person can only be extradited to another jurisdiction to meet an alleged offence which corresponds to a similar one in this jurisdiction.

In April 1996, a US magistrate returned an indictment against Mr Oldbridge charging him with various offences described as "wire fraud" and with aiding and abetting in the alleged commission of these offences.

He is accused of knowingly and wilfully transmitting writings, signs and signals for the purpose of executing a scheme to defraud Michigan National Bank and Swiss Cantobank International.

In the High Court yesterday, Mr Peter Charleton SC, for the Attorney General, told Mr Justice Kearns the issue was whether there was correspondence between US and Irish law in order to permit the extradition of Mr Oldbridge.

Mr Oldbridge was wanted on a number of offences involving mail and wire fraud. The court must decide what the facts as alleged were and whether there was a corresponding offence to "wire fraud" in Irish law.

Dr Michael Forde SC, for Mr Oldbridge, said there was no offence of fraud in Irish law. One had to be more specific.

Mr Justice Kearns said he would deliver judgment today.