Mandaric charged with cheating public revenue
Mandaric will appear at the City of Westminster Magistrates' Court on February 11.
Following a thorough investigation by HM Revenue & Customs and the City of London Police, the CPS decided there was sufficient evidence and it was in the public interest to charge Mandaric with two counts of cheating the public revenue.
The charges are in relation to the payment of $295,000 from Mandaric to another via a bank account in Monaco, evading the tax and national insurance contributions due between April 1 2002 and November 28 2007.
The Serbian-American tycoon was unveiled as the new owner of the Foxes in February 2007, overseeing Leicester's relegation from the Championship to League One in 2008 and promotion back to the second tier the following year.
Leicester currently sit fifth in the Championship.
Mandaric was previously chairman of Portsmouth, arriving at Fratton Park in 1998 and appointing Harry Redknapp as manager to steer Pompey to promotion to the Premier League in 2003.