This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/england/7340058.stm

The article has changed 10 times. There is an RSS feed of changes available.

Version 4 Version 5
Birmingham City shares suspended Tax probe led to football arrests
(about 5 hours later)
Birmingham City officials have asked for the football club's shares to be temporarily suspended "pending an announcement" later. Birmingham City has said the arrest of its co-owner and managing director relates to an inquiry into payments to a football agent and two players.
The move comes after the club's co-owner David Sullivan and managing director Karren Brady were arrested and questioned, before being bailed. David Sullivan and Karren Brady were arrested on Wednesday by City of London Police and are currently on bail.
The pair were questioned by police in connection with allegations of false accounting and conspiracy to defraud. Shares in the club were suspended after the pair were quizzed over allegations of false accounting and conspiracy to defraud.
The club previously said it was "fully committed" to working with police. In a statement the club said it related to tax and national insurance payments.
The London Stock Exchange suspended the shares on Thursday morning. It said the police investigation was focussed on "payments to a football agent and two players dating back to 2002/2003".
The club added the probe was "in relation to the payment, or possible non-payment of PAYE and National Insurance contributions".
'Fully committed'
The club statement added: "There is absolutely no allegation that any director of the company or the club itself have benefited financially from any of this activity."
It said it was "fully committed" to working with police, adding: "For the avoidance of doubt we wish to make it plain that David, Karren and Birmingham City FC deny absolutely any wrong doing."
David Sullivan is the club's co-owner
Earlier the club had asked the London Stock Exchange to suspend its the shares.
Shares in the company had been selling for 35.5p until the suspension announcement, which came half an hour before the start of trading.Shares in the company had been selling for 35.5p until the suspension announcement, which came half an hour before the start of trading.
Ms Brady made no comment as she left her home in Knowle, Solihull, shortly before 0800 BST.Ms Brady made no comment as she left her home in Knowle, Solihull, shortly before 0800 BST.
'Longstanding appointment' Police raided the club last month in what was said to be "an ongoing investigation into football corruption".
City of London Police raided the club last month in what was said to be "an ongoing investigation into football corruption". Ms Brady, 39, and Mr Sullivan, 59, were questioned and bailed by the City of London force's economic crime unit.
Ms Brady, 39, and Mr Sullivan, 59, were questioned and bailed by the police force's economic crime unit.
A statement released by Birmingham City FC on Wednesday said the pair had been interviewed by officers as part of a "longstanding appointment" and they had "happily done so".A statement released by Birmingham City FC on Wednesday said the pair had been interviewed by officers as part of a "longstanding appointment" and they had "happily done so".
Seven other people are currently on bail as part of the investigation. Shares suspended
Among those previously arrested during the investigation are Portsmouth manager Harry Redknapp, the club's chief executive Peter Storrie and former chairman Milan Mandaric. Meanwhile, it has emerged that shares in a company owned by the businessman Carson Yeung, who recently mounted a takeover attempt of the club, have also been suspended.
Trading has been halted in Grand Top International's shares on the Hong Kong stock exchange, the BBC's sports correspondent Pat Murphy said.
Mr Yeung owns 29.9% of shares in Birmingham City.
Seven other people are currently on bail as part of the City of London Police investigation in to allegations of corruption in football.
Among those previously arrested are Portsmouth manager Harry Redknapp, the club's chief executive Peter Storrie and former chairman Milan Mandaric.
Former Portsmouth midfielder Amdy Faye, a Senegalese international, has also been questioned by police.Former Portsmouth midfielder Amdy Faye, a Senegalese international, has also been questioned by police.