Former Seven West Media executive John Fitzgerald will be charged by police over an $8 million fraud he allegedly committed against the network over 14 years.
The Age reports Fitzgerald, 57, was arrested at his home in Breakfast Point before 8am today.
His arrest comes more than two years after a major investigation was launched by the NSW Financial Crimes Squad into the alleged misappropriation of funds totalling more than $8 million.
The alleged offending spanned the period from December 2002 to March 2016.
He is said to have used the money for superannuation and to buy real estate.
Fitzgerald worked for Seven West Media for more than 15 years.
Last year, Fitzgerald and Seven West reached a settlement. The money has been repaid to Seven.
Seven has declined to comment, given the matter is before the courts.