Mr Nygard has denied sex abuse allegations against him. GETTY IMAGES
The FBI and New York police executed a search warrant on Tuesday, a spokesman for the US Attorney's Office said.
The raid comes as Mr Nygard, 77, is facing a sexual assault and trafficking lawsuit, filed by 10 women and girls earlier this month.
He has denied allegations of wrongdoing.
The Finnish-Canadian multimillionaire, who has been linked to Prince Andrew, has been the subject of an investigation by the child exploitation FBI task force and New York police for the last five months.
He was reportedly the subject of a previous FBI investigation for sex trafficking in 2015 and 2017. Read more >>