Phil Egan, author of the Hawthorn Football Club racism report, has reportedly been arrested and is expected to be charged with fraud in connection to his time at Murray Valley Aboriginal Co-operative.

The former Richmond forward was arrested by Victoria Police financial crime squad detectives on Tuesday.

Mr Egan served as manager of the Co-operative between 2010-2012.

In December he told the National Indigenous Times allegations he had siphoned hundreds of thousands of dollars out of the organisation were false.

On Wednesday morning a Victoria Police spokesperson said detectives from the Financial Crime Squad had arrested a man Tuesday as part of an investigation "into allegations of fraud relating to the management of a Robinvale-based organisation".

"He has been released and is expected to be charged on summons with fraud-related offences," they said.

Mr Egan told the ABC he had cooperated with police and his arrest was part of a scheduled meeting with investigators.

"No charges have been laid and I'm confident no charges will be laid once the document trail is presented to Victorian Police over the coming weeks," he said.

"This investigation is not an opinion-based one...it's about documents and it's about truth and I am 100 per cent confident my documents will hold up against these inquiries."

Mr Egan's review into cultural safety at Hawthorn is central to ongoing AFL investigations surrounding serious allegations of racism involving past Indigenous players at the club.

The matters involved current AFL coaches Alastair Clarkson and Chris Fagan who held senior positions within Hawks' coaching staff between 2010-2016.

The outcome of the probe, lead by Bernard Quinn KC and an independent panel, is expected to be released in coming months.

Mr Egan has said the allegations of fraud against him are an attempt to discredit his review.