The man was arrested on Wednesday afternoon and questioned by Gardai at an undisclosed location.
A former GAA star has been released without charge over alleged fraud.
It is believed Gardai are investigating claims that a man approached a number of people asking them to help pay for cancer treatment abroad.
It is understood that funds running into hundreds of thousands of euro had been paid over.
The suspect was arrested yesterday (Wed) in the Eastern Region.
The man was released without charge and a file will be prepared for the DPP.
