Former Hearts chairman Leslie Deans has been charged with money-laundering offences as part of an ongoing fraud inquiry involving a number of people.
The leading lawyer, who runs his own estate agency, was arrested in Edinburgh weeks ago, but details have only just emerged.
The 62-year-old was chairman of the Tynecastle side in the late 1990s, but it is understood his arrest is not related to the club.
The solicitor runs a chain of estate agents across Edinburgh with branches in Newington, Corstorphine and South Queensferry.
He took control of Hearts in 1994, ending Wallace Mercer’s 13-year reign as part of a £2 million takeover alongside businessman Chris Robinson.
He stepped down from the board in 1999 after seeing his side lift the Scottish Cup the season before. In 2005, he sold the 18 per cent holding he shared in Hearts with Robert McGrail to Lithuanian businessman Vladimir Romanov.
A spokeswoman for the Law Society of Scotland said: “Failures to comply with obligations can result in disciplinary processes or, where appropriate, result in referral to the authorities. ”
Deans has declined to comment on his arrest.A Police Scotland spokesman said: “We can confirm that a 62-year-old man has been arrested and charged with money-laundering offences as part of an ongoing fraud inquiry. A report will be submitted to the Procurator Fiscal.”