Leicester boss Mandaric claims innocence on tax charges

Milan Mandaric is due before magistrates next month

The millionaire chairman of Leicester City has vowed to prove his innocence after he was charged with two counts of cheating the public revenue.

Milan Mandaric, 71, faces tax evasion charges relating to the payment of US $295,000 to another person through a bank account in Monaco.

The allegation goes back to his time at Portsmouth Football Club.

He said: "Independent tax experts have already confirmed that, in their opinion, there is no tax liability."

The transaction meant he evaded tax and National Insurance contributions due between 1 April 2002 and 28 November 2007, the Crown Prosecution Service (CPS) said.

My solicitors will be assisting me to vigorously defend the case and prove that I am innocent of this allegation

Milan Mandaric

Mr Mandaric issued a statement on Leicester's official club website, which read: "I am surprised and very disappointed that I have been charged by HMRC.

"This was a personal matter and nothing to do with football.

"I have done nothing wrong and independent tax experts have already confirmed that, in their opinion, there is no tax liability.

"My solicitors, Cartwright King, will be assisting me to vigorously defend the case when it goes to court and prove that I am innocent of this allegation."

He is due to appear at City of Westminster Magistrates' Court on 11 February.

Milan Mandaric was chairman of Portsmouth from 1998 to 2006.

He completed his takeover of Leicester City in February 2007.