Juan Rodriguez - who streaked in front of the US President Barack Obama in Philadelphia - did it for a prize of one million dollars announced by a British billionaire, reports say.
Rodriguez was just answering the challenge of British billionaire Alki David, who promised one million dollar to the first person who streaked in front of the president to promote his website.
Rodriguez was arrested after he appeared in the buff as the US President was trying to fire up a massive crowd at an outdoor rally.
"That is absolutely right," the New York Daily News quoted David as saying.
"This is the first time anybody has attempted it. I still don't know if he was successful. If he has done it, I'll pay him in cash," he said.
In August, David issued his challenge on his website Battlecam.com, billed as an interactive reality TV channel and community.
David said the commando-in-chief contest required participants to shout "Battlecam.com" six times, have the name of the website written across his or her chest, and be within earshot and sight of Obama.
He also suggested the stunt be done in a place where it is legal to be nude, but didn't make that a rule.
"I'm very clear about the rules. I'm still waiting to get conclusive proof he (Rodriguez) did it," said David.
He said Rodriguez teamed up with Glen Zolar and Joey (Boots) Bassolino to conduct the stunt, which has been apparently videotaped.
Zolar told The Weekly Standard that Rodriguez has promised him a percentage of the prize if he achieved the feat.
"I'd rather not disclose the figure, but it would definitely be more than 5,000 dollars and less than 25,000 dollars," said Zolar.