The charges relate to Mr Bonner's alleged involvement as an agent for Paul Paraka Lawyers.
Police alleged Mr Bonner received 3.5 million Kina for acting as the middle man.
Officers from the Fraud Squad arrested Mr Bonner at the Waigani Court House this morning.
As Maivo Lafanama reports, he was also physically assaulted by police personnel, who were with the Fraud Squad officers.
Mr Bonner was taken in for questioning at the Fraud Squad Headquarters at Konedobu and then to Boroko Police Station, charged and locked up around two-thirty this afternoon. Fraud Director Matthew Damaru confirmed the charges.
"We expect to have him charge at the end of the interview with two counts of stealing, two counts of two counts of conspiracy to defraud and two counts of money laundering", said Damaru .
Mr Bonner is the sixth person to be charged as co-conspirators of Paraka. This include lawyers and public servants.
Meantime Deputy Police Commissioner Operations Jimmy Andrews had condemned the way in which the lawyer was treated.
He adds, Mr Bonner has laid an official public complaint, with matters to be investigated and those found guilty will be dealt with severely.
Mr Andrews has also dispelled rumours of friction within the police force and that Mobile Squad members from the highlands are in the city.
He says, any movements of police will be confirmed by him.