Opposition MP, David Lee says charges laid against him are as a result of false allegations.
In a statement following his arrest on Friday, the Pointe-a Pierre MP said in due course the allegations against him will be proven as futile.
He said at no time did he contravene, conspire or see to defraud the state, adding that the transaction for which he is accused of engaging in illegally, was undertaken within the confines of the law.
On Friday, Mr. Lee, the member of Parliament for Pointe-a-Pierre was detained and brought before a justice of the peace, and charged.
He was released after being given one million dollars bail.
The charges are said to be in connection with the purchase of a $2.3 million Mercedes-Benz and whether the $1.4 million in tax exemptions derived may have benefited a party financier.