Toronto police have arrested a man wanted by the FBI for alleged offences related to organized crime.

Myfit "Mike" Dika was arrested Monday afternoon and is being held in custody pending extradition proceedings, police said Tuesday.

It's alleged that Dika was part of an international conspiracy engaged in money-laundering and the importation of narcotics and firearms to the United States and Canada.

Police believe that Dika entered Toronto in August 2009 and that he and two accomplices evaded capture at the time.

One of the men has since been arrested in Albania, and police say Kujitim Lika, 45, remains at large and may still be in Canada.

The case was featured on the television series America's Most Wanted.