LAS VEGAS -- FBI agents raided the offices of boxing promoter Bob Arum as part of an investigation being conducted in cooperation with New York City police.

FBI spokesman Jim Stern confirmed the Las Vegas offices of Arum's Top Rank Inc. were searched Tuesday night as part of the probe. He said the investigation is ongoing.

Stern declined to comment on the subject of the investigation, but a source who asked not to be identified said it involved Arum's business records and business practices.

Stern said the investigation involves both the FBI and the New York City police department. Department spokeswoman Jennara Everleth declined comment.

A receptionist at Arum's office said the promoter was out of the country on vacation.

The 72-year-old Arum is a former Justice Department attorney who first got involved in boxing in 1962 when he was assigned to help collect the proceeds of the first Sonny Liston-Floyd Patterson fight.

Arum has promoted some of boxing's biggest fights, with his last big promotion the 154-pound title fight in September between Oscar De La Hoya and Shane Mosley.

After De La Hoya lost, Arum lashed out bitterly at the judges of the fight and accused Nevada boxing officials of improperly picking the judges to allow Mosley to win. Arum later apologized for his actions, saying they were "made in the heat of passion."

Arum is no stranger to controversy, and in 2000 paid a $125,000 fine to Nevada boxing authorities for bribing the International Boxing Federation to get approval of a heavyweight title fight in 1995 between then-champion George Foreman and unranked Axel Schulz.

Unlike rival promoter Don King, however, he has largely avoided being the target of legal actions, though King unsuccessfully sued him for allegedly stealing boxer Julio Cesar Chavez from him.