Murdo Mackay, the former Derby County director of football, has been charged as part of an investigation into alleged financial irregularities.

Mackay was the fifth person to be arrested as part of inquiries which began last year into the takeover of the club in 2003.

He has been accused of conspiracy to defraud and conspiracy to conceal criminal property but has denied any wrongdoing.

Jeremy Keith, the former chief executive and ex-finance director Andrew Mackenzie are facing the same charges.

“My client has assisted the police throughout this lengthy inquiry and refutes any allegation of inappropriate conduct in relation to Derby County Football Club,” Mackay’s solicitor, Stephen Burdon, said.

“The evidence will show that all transactions involving Murdo Mackay were legitimate and that he always acted in the best interests of the club.”

A spokesman for Derbyshire police said: “Following a decision by the Crown Prosecution Service specialist fraud unit, police can confirm that a 52-year-old man has been charged in connection with an investigation into alleged financial irregularities within Derby County Football Club.

“He was charged with conspiracy to defraud and conspiracy to conceal criminal property.”