That's a legal term telling someone to stop an illegal activity (you've probably heard this term being used when companies take down scanlator groups for pirating).
An officer making contact with a suspect would probably say something more like:
"Get on the ground, " or "Drop the weapon."
Also, officers don't need to read Miranda rights before an arrest. That's for if they want to interrogate the arrestee.
I wonder if urasawa had these in manuscript or of it was the translator.