Retired Assistant Chief Constable Duncan McCausland is considering suing his former employer over his arrest in relation to an alleged corruption probe.
Mr McCausland, who was arrested 18 months ago and questioned for three days, has been told he will not face any charges.
The former senior police officer said he volunteered to cooperate with the investigation and believes the decision to arrest him was disproportionate. Mr McCausland, who was one of nine people questioned in relation to the awarding of police vehicle contracts, plans to lodge a formal complaint with the Police Ombudsman.
"This matter can be resolved very quickly in an easy way if Chief Constable George Hamilton, who I know personally, is prepared to offer his regrets for what happened," Mr McCausland told BBC radio yesterday.
"But I have to consider everything because my reputation has been damaged."
But Mr Hamilton said he was "wholly content" with the way in which the police dealt with the case.
The June 2014 arrests followed a massive police operation that covered both Northern Ireland and England. Several searches at homes and business premises were carried out and several items were seized. It is understood the investigation centred on a fleet of cars which lay unused by the PSNI for up to three years.
The Irish News revealed that 69 Skoda Octavias had been parked at the PSNI's Seapark complex near Carrickfergus in Co Antrim after their keys were lost. They disappeared in September 2014 and only turned up in August 2015.
Mr McCausland left the PSNI in 2011 with a £500,000 package under the Patten redundancy scheme, having served with the RUC and then the PSNI since 1983.
