A BRITISH former multi-millionaire tycoon has been arrested in Majorca on suspicion of raping two women at a luxury hotel.

The 55-year-old allegedly targeted the women on separate occasions at a five-star hotel in Portals Nous.

The Brit was detained on Wednesday after the second of the two women, a Ukrainian national, said he forced himself on her.

She had flown to the island’s capital Palma for an arranged meeting.

She was taken to the hospital by police after alleging she had been raped over the weekend, where she then made a formal complaint.

The other woman, who is from South America, has said that her attack by the Brit took place at the start of the year.

Civil Guard officers have prepared a report for a court in Palma, which is conducting an ongoing criminal investigation following the man’s police questioning.

The suspect was allowed to leave police custody without appearing before an investigating judge.

Accompanied by a defence lawyer during his questioning, he is reported to have insisted the complainants were trying to blackmail him and provided “evidence” to support this claim.

No formal charges have yet been laid.

It is still unclear when the British man, who reportedly once ran a business with a seven-figure turnover, will be called to appear in court.

The man under investigation has served time in the UK although his previous offences are said to have not been sexual.

It is believed that he has been told he is free to leave Majorca while the investigation against him continues.

The Civil Guard in Palma has not yet made an official comment.