Dover and Deal MP Charlie Elphicke has said he is unaware of the nature of the “serious allegations” which the Conservative Party says have been passed to the police.
Tory chief whip Julian Smith said Mr Elphicke has been suspended but would not elaborate further on the claims that prompted the action.
Mr Elphicke has denied any wrongdoing and said the media had been informed of the suspension before he had.
Mr Smith said: “I have suspended the Conservative Party whip from Charlie Elphicke MP following serious allegations that have been referred to the police.”
The MP tweeted: “The party tipped off the press before telling me of my suspension. I am not aware of what the alleged claims are and deny any wrongdoing.”
Mr Elphicke has represented the south coast seat since 2010 and is a member of the Commons Treasury Select Committee.
The MP, 46, was a Government whip under former prime minister David Cameron between 2015-16.
Mr Elphicke is a member of the European Research Group of pro-Brexit Tory MPs and has called for stronger border controls.