Police media spokesman SP Ruwan Gunasekera said that the Officer had been arrested yesterday in connection with financial frauds.
A complaint had also been recently lodged with the police financial crimes division regarding an attempt to transfer 5.5 million US dollars belonging to Sri Lanka Cricket to another account.
The charge levelled against him in this case is that he had given instructions to transfer to another account, the fund linked to the selling of broadcasting rights in connection with the series held with the England team.
Police media spokesman said that information had been received to the effect that the Officer concerned had tried to transfer to another account, 5.5 million Dollar instalment scheduled to accrue to Sri Lanka Cricket from the Sony Television channel payment over broadcasting rights.
While further investigation is being carried out, the officer concerned is scheduled to be produced before court today.