Masiello, who joined Atalanta last summer from Bari, has been charged with "criminal association and fraud".
Eight other players from last season's Bari squad are already under investigation, while two of Masiello's friends were also arrested by police.
"This is just the first wave of arrests of an investigation that began in
"We have plenty of evidence in the form of payments in which results of certain games were altered."
Investigators are reportedly focusing on Bari's final nine fixtures in last season's Serie A.
Bari were relegated to the second division last campaign.
Former Atalanta captain Cristiano Doni and ex-Lazio skipper
Former Bari defender Andrea Masiello has been handed a 22-month suspended prison sentence, after admitting scoring an own goal during a relegation decider.