Toronto Coun. Rob Ford is facing serious charges of assault and threatening death in an incident that is alleged to have taken place inside his Etobicoke home.

Police said Ford was arrested Wednesday morning, processed and released from custody.

While police would not disclose any further information about the alleged incident, Ford and his lawyer denied that an assault took place in an interview with CTV Toronto. They called the charges "unfounded."

Ford said his wife was present at the time of the alleged incident. The couple has two young children.

Ford, an outspoken and controversial councillor known for his penny-pinching, is set to appear in court on April 28.

He was in the news recently for remarks he made at a city council meeting about hardworking Asian residents.

"You want to see workaholics, those Oriental people work like dogs, they work their hearts out, they are workers non-stop -- they sleep beside the machine," he said.

"I'm telling you that's what makes them such hard workers. Those Oriental people are slowly taking over."

He later apologized for his choice of words, saying he was trying to pay a compliment.

With a report from CTV Toronto's Tom Hayes