British property developer Nicholas van Hoogstraten has been arrested in Zimbabwe, according to local media.
Mr van Hoogstraten is accused of charging rent in foreign currency
The state-run Herald newspaper said Mr van Hoogstraten, 63, was charged with breaking foreign exchange laws after a night raid at his Harare home.
He is accused of demanding rent in overseas currency, contrary to Zimbabwean law, the newspaper said.
A police spokesman told it that Mr van Hoogstraten, of Uckfield, East Sussex, owns about 200 properties in Zimbabwe.
Bundles of money
Officers recovered 20 billion Zimbabwe dollars (£335,883; US$665,148) in cash, US$37,586 (£18,980), 92,880 South African rands (£6,552; US$12,975), £190 (US$376) and 180 Botswana pula (£15; US$29).
Zimbabwean law prohibits the use of foreign currencies for local goods and services.
Zimbabwean TV news bulletins showed Mr van Hoogstraten dressed in a white short-sleeved shirt, as the bundles of money allegedly found at his house were carried out by police.
Police spokesman Wyane Bvudzijena told the Herald that Mr van Hoogstraten had demanded six months' rent in foreign currency from tenants.
He added that police also recovered pornography from Mr van Hoogstraten's home.
"The police informant had been asked to pay in the region of US$8,000," Mr Bvudzijena added.
"Van Hoogstraten is being charged under the Exchange Control Regulations for charging a service and dealing foreign currency.
"He is also facing charges under the Censorship Act."
In 2002 a British court convicted Mr van Hoogstraten of manslaughter and sentenced him to 10 years in jail after a business associate was shot and killed.
Mr van Hoogstraten appealed against the conviction and was cleared in 2003, although in 2005 a civil court awarded the murdered man's family £6m in damages.