A Briton accused of swindling more than £1.4m from retired UK ex-pats is to be extradited to France within 10 days.
Warren Templeton, 51, also known as Graham, faces nine charges of fraud.
He pretended to be an investment agent to persuade nine people to invest large sums in a five-year savings bond - promising a 15% return, it is claimed.
Mr Templeton countersigned the cheques, depositing them into his account to fund a lavish lifestyle across Europe, Bow Street Magistrates' Court heard.
Seth Levine, for the French government, told the court: "The money has yet to be accounted for in France and he has been leading a rather lavish lifestyle across Europe, including some time in Marbella."
Mr Templeton's aliases, include Graham Warren and Graham Briggs.
"He does tend to shed his identity and to pop up around Europe in places including Marbella and the Balearic Islands," Mr Levine added.
"Mr Templeton is a man for whom deceit became a vocation some time ago."
Last month, Mr Templeton was arrested by the Metropolitan Police in Essex.
"The car he was driving was flagged up by police as being of interest to them," Mr Levine told the London court.
"He was supposed to surrender to Charing Cross police station - that did not happen."
Mr Templeton has been held in custody on a European arrest warrant issued in Bergerac, France, and then certified by the Serious Organised Crime Agency.
"The French authorities have been keen to track Mr Templeton down," Mr Levine added
"He has proceeded to try and evade arrest."
District Judge Daphne Wickham denied him bail.
Mr Templeton was declared bankrupt in March.
In December 1996, he was sentenced at Bournemouth Crown Court to two-and-a-half years in prison for obtaining property by deception, perverting the course of justice and forgery.