The 39-year-old was held in Leicester while a business address in the city was searched, Scotland Yard said.
He was arrested on suspicion of fraud by misrepresentation and unauthorised sale of tickets by officers with Operation Podium, the Met’s dedicated unit tackling crime affecting the economy of the Olympics and Paralympics, and remains in custody.

Full article:
Man Held by Police in Leicester Over London 2012 Ticketing – Metro – June 20, 2012
By Martin Cross
Link to The Metro article