Per Puccio, the Southampton Police Department in New York said Faried was arrested after he was found to be in possession of more than two ounces of marijuana as the rear passenger in a vehicle at a sobriety checkpoint.
Puccio added that money was seized, and Faried was later released on $500 bail.
As part of the deal, the Nets also landed forward Darrell Arthur, a 2019 first-round pick (protected top-12) and a 2020 second-round pick for point guard Isaiah Whitehead.
The move was a pure salary dump for Denver since Faried will make over $13.7 million during the upcoming season, according to Spotrac.
He fell out of favor in Denver last season, as he averaged career lows with 5.9 points and 4.8 rebounds in 14.4 minutes per game over 32 appearances.
Over a four-year stretch from 2012-13 through 2015-16, Faried averaged at least 11.5 points and 8.6 rebounds per game in each campaign.
In 441 career regular-season games, he boasts averages of 11.4 points and 8.2 rebounds, while shooting 54.3 percent from the field.
Faried is expected to be a key part of the Nets' frontcourt in 2018-19 alongside power forward Ed Davis and center Jarrett Allen.