The Police had summoned the 64-year old for questioning who was later detained, a Metropolitan Police statement said.
The policemen also conducting a search of a house in northwest London, said a statement issued on the Met Police website.
Five other men previously arrested in connection with the investigation into money laundering are on police bail.
Money laundering has been serious offence in Britain and under the British law a court can award upto life sentence to an offender.
According to the statement, the arrest is part of an ongoing investigation into a money laundering case.