A Police Senior Superintendent has been arrested and charged by the ICAC for allegedly swindling $200,000 from a finance company.

Iain Tse, 54, has been released on ICAC bail, pending his court appearance in Eastern Magistracy at 9.30am tomorrow on one count of fraud.

The case arose from a corruption complaint alleging Tse accepted unauthorised loans.

The case alleges that on January 2, 2001, Tse, in a loan application made with United Asia Finance, falsely represented that a premises at which he was residing was his self-owned property.

He also allegedly misrepresented his true and complete financial liabilities by failing to disclose personal loans totalling $1.45 million obtained from a finance company, a licensed moneylender and three banks.

As a result of the misrepresentations, Tse had induced United Asia to grant him a $200,000 personal loan.