Date: 12th January 2010 at 2:16pm
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Leicester City chairman Milan Mandaric has been hit with two charges of cheating the public revenue.

The charges relate to a payment of $295,000 through a Monaco-based bank account during his time as owner of Portsmouth.

As a result it meant he evaded the National Insurance and tax on the payment due between April 2002 and November 2007.

In a statement the CPS said: ‘Milan Mandaric, the former chairman of Portsmouth Football Club, has today been charged with two counts of cheating the public revenue following a decision by the CPS Revenue and Customs Division.

‘Following a thorough investigation by HM Revenue and Customs and the City of London Police, the CPS decided there was sufficient evidence and it was in the public interest to charge Mr Mandaric.’

Mandaric has strenuously denied any wrong-doing, and currently has a legal team working on the case. His court date has been set for February 11th.