The Economic and Financial Crimes Commission (EFCC) has released Mr Innocent Chukwuma, the Chief Executive Officer of Innoson Motors.
Spokesman of the commission, Mr Wilson Uwujaren, said in a statement on Wednesday that he was released on bail.
Popularly known as Innoson, the industrialist was arrested on Tuesday following his alleged refusal to respond to invitations by the commission, after initially being granted administrative bail.
Uwujaren said his surety could also not be found, hence his arrest.
He said, "unfortunately the industrialist resisted arrest and stirred controversy by bringing six truck-loads of thugs to block the entrance to his Plot W1, Industrial Layout, Abakaliki Road, Emeni, Enugu, home.
"This was after he initially misled the Police Command by informing them that his home had been invaded by armed robbers and kidnappers despite the fact that operatives of the Commission duly identified themselves to policemen guarding his home.
"His unruly thugs encircled and manhandled operatives of the Commission who had gone to effect the arrest.
"Consequently, a distress call was sent to the Commission's Enugu Office for reinforcement."
He said the anti-graft agency's operatives acted with "decorum and civility "as no one was manhandled or assaulted by the EFCC team".
He added that no single shot was fired during the operation "despite the provocation.
"Chukwuma and his brother, Charles Chukwuma (who is still at large), are being investigated by the Insurance and Capital Market Fraud Section of the Commission's office in Lagos over matters bordering on N1,478, 366, 859.66 fraud and forgery.
"The industrialist, among other infractions, allegedly used forged documents to secure tax waivers," he said.