Police are investigating claims of corruption and fraud at Queen Victoria Market.

Market chief executive Stan Liacos said allegations had been made of "improper activity by employees, developers, suppliers and the government going back more than 20 years".

Police are investigating claims of criminal activity at Queen Victoria Market. Credit:Eddie Jim

He said the accusations had been made this week in an anonymous email to the board which was then referred to Victoria Police.

"QVM takes any allegation of impropriety extremely seriously and will fully cooperate with police as they assess this matter," he said.