A financier wanted in Canada in a purported $2.5 million fraud has been ordered held in jail pending an extradition hearing.

Kenneth Ervin Ford was arrested Dec. 26 at the Salt Lake International Airport by U.S. marshals acting on a request from the Canadian government. He has been held since his arrest.Ford and his business partner Carlton Gray are wanted in Vancouver, British Columbia, for allegedly defrauding the Canadian government in 1987, prosecutors say. Gray was arrested in Las Vegas in October and is awaiting extradition proceedings.

The charges stem from their involvement in the Vancouver-based Detch Dehydration Technology, which had obtained tax credits through a government scientific research program, prosecutors said.

The charges allege the men claimed Detch spent about $5 million on scientific research it never did.

Prosecutor Tena Campbell told the court Wednesday that Ford should be kept in jail because he is a flight risk. She said Ford traveled under an assumed name and had a fake California driver's license.

U.S. Marshal Rick Lovelace said when he arrested Ford, the man blurted out to a companion, "Somebody snitched me off - you need to take care of him."

Defense attorney James Barber said Canadian officials have indicated they will jail Ford unless he posts $500,000 cash for bail, "which shows how harshly they are treating my client."

Barber said the Canadian charges are politically motivated.