The home and offices of an Ulster Unionist Party Assembly member were raided by police today as part of a major ongoing investigation into money laundering.
The probe has already led to charges against a top estate agent and former paramilitary "godfather".
Michael Copeland, an East Belfast MLA and councillor on Castlereagh Borough Council, was visited by police early in the morning at his home.
Later his office at the council building and another nearby were searched.
A Police Service of Northern Ireland (PSNI) spokesman said: "As part of our investigation into money laundering police have carried out a number of searches in east Belfast and Castlereagh."
"Two Production Orders have been executed under the Proceeds of Crime Act in the Castlereagh and North Down areas."
The PSNI did not name Mr Copeland, but he said police told him they were acting as a result of a serious allegation made against him over the sale of land.
"I assisted the police fully and gave them my wholehearted support in getting to the bottom of their investigation," Mr Copeland said.
"I wish to make it clear that I feel that I am not in any way implicated in any wrong-doing."
Computer equipment, credit card and bank statements were among items taken from Mr Copeland.
The MLA, whose wife is a police officer, said he had been visited at home at 7am by four "very pleasant police officers" who, he said, had acted completely properly.
"I can confirm that police searched out offices in Castlereagh and my offices on the Albertbridge Road as part of an investigation into the sale or proposed sale of property/land situated at Dundonald Ice Bowl, Moat Park and Greary Road," he said.
The raids were the latest in a series over the past fortnight which have been carried out as part of a major money laundering investigation.
Former Ulster Defence Association godfather, Jim Gray, 47, was the first to be arrested - just days after he was ousted as one of the six so-called ruling "brigadiers" at the helm of the paramilitary group.
The flamboyant loyalist has been charged with possessing and concealing criminal property.
His girlfriend , 34-year-old Sharon Moss has also been charged with 16 counts of money laundering.
Prominent Belfast estate agent, Philip Johnston, 39, - who runs a chain of six branches in the city - has also been charged with involvement in money laundering.
PA