Former chairman of Northampton Town understood to have been arrested over Â£10.25 million by borough council

The former chairman of Northampton Town is understood to be 'helping police with their investigation' into the Â£10.25 million loan given to the club by the borough council.

By The Newsroom

Published 26th Jan 2016, 13:55 BST

Updated 27th Jan 2016, 10:29 BST

Northamptonshire Police has released a statement yesterday saying a 45-year-old man, who was arrested by detectives at an address in Northamptonshire on Monday morning, had been released on conditional bail. The BBC has reported it understands the man arrested is former chairman Mr Cardoza.

Det Chief Insp Paul Spicer said: “This remains a very complex investigation and, as such, it would be inappropriate for us to make any further comment at this time.”

Northampton Borough Council loaned Northampton Town £10.25 million to complete a stadium development back in 2013.

But the new East Stand was never completed and the builders, Buckingham Group Limited claims it is still owed around £3 million for completed works.

A police investigation into the alleged financial mismanagement of the loan money began in November when officers removed files and computers from Sixfields Stadium.