Millionaire Nicholas Hoogstraten, arrested in connection with the murder of a retired businessman, has been released on police bail.

Mohammed Raja, 62, was gunned down at his house in Sutton, Surrey, in 1999.

Property tycoon Mr Hoogstraten, 58, of Framfield, was arrested on Monday afternoon at a hotel in Hove in connection with Mr Raja's murder and taken to a south London police station.

Yesterday he was bailed to return on a date in August pending further inquiries.

David Croke, 58, of Brighton, was charged with Mr Raja's murder in March and is due to stand trial later in the year.

Mr Hoogstraten made his fortune through global mining and property holdings.

He has houses in the USA, France, Zimbabwe and the West Indies.