Irish police have caught a fugitive who has been on the run for three years for $75m mortgage fraud US.

Scott Cavell, the 29-year-old son of a former US soldier, will deported back to the United States and into the arms of the FBI this week reports the Irish Independent.

Irish police caught Cavell peddling drugs in Dublin. Last Monday, the Dublin District Court gave Cavell a five-year suspended sentence on the condition that he cooperates with his deportation back to the US.

Cavell, with accomplice Christopher J Warren, managed a finance company in Sacremento, California and defrauded investors and mortgage companies of millions since 2006.

Warren and Cavell vanished on February 2, 2009. Warren, who chartered a private plane and flew to Lebanon via a stopover in Shannon Airports, opened a suitcase and showed the flight crew up to $5m gold. Although the authorities never found the gold, Warren was arrested a week later when trying to return into the US at the Canadian border.

According to the Independent, Cavell, who turned up in Ireland on a false US passport, lived  for a few years in rented flats selling gold coins and precious metals over the Internet to reputable traders and dealers.

Cavell later swapped his fake US passport for a false Irish one under the name of Marcus Dwyer and opened two bank accounts with Allied IRish bank through which flowed tens of thousands of euro.

After the gold ran out, Cavell turned to drug dealing to make ends meet. Cavell was arrested during a drug search at this Castle Street apartment  in February 2011 but was processed through the system under his false identity.

Police discovered his alter ego in October on the eve of his trial for drug charges.

Garda Paul Kelly discovered that he was a wanted fugitive when he sent Cavell's fingerprints and photograph to Interpol as he was suspicious of his American accent.

When Cavell received bail he went on the run again.

Cavell was arrested at the Electric Picnic in September last year in possesion of 28 ecstasy tablets. He was released without charge, with police intending to summons him later.

Tracing his money transactions, detectives tracked him to a rented house on Tyrconnell Road in March this year. They staked him out, following him to Ben Dunne's gym on Jervis Street one March morning, interrupting his workout. Back at his house, police found a tablet press and enough ecstasy to make €20,000 worth of tablets. They also found €3,500 in cash.

At a trial held last last week, Detective Garda Philip Ryan told the court that the fugitive had fallen in with the "wrong crowd" and was "encouraged" to come to Ireland on a fake passport. He was then steered into the drugs operation when he got here.

Cavell has been ordered to remain in jail until police arrange for his deportation to the US.

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