The 37-year-old man has been accused of selling pre-paid funeral plans fraudulently.
A report is to be submitted to the Procurator Fiscal and the man is set to appear in court on a later date.
A police spokesperson said: “Police Scotland have arrested and charged a 37-year-old man in connection with fraud offences after officers received reports of a fraudulent scheme linked to business in Fife in September 2019. A report will be submitted to the Procurator Fiscal.”
Last month, Stevenson funeral directors faced an ongoing police investigation amid claims of fraudulent activity at the business.
Stevenson Funeral Directors, which has branches in Cardenden, Kirkcaldy and Rosyth, is under investigation after claims that some customers paid thousands of pounds for funeral plans, however trustees for the plan, Avalon, have allegedly received no money indicating that the plans were not registered with the trustee company.
Funeral Service times has contacted Stevenson Funeral Directors for comment.