Former property magnate and director of Leeds United Simon Morris has been charged with conspiracy to blackmail.
Mr Morris, 32, was declared bankrupt a year after his business empire SRM Holdings Group collapsed with debts of around £50 million.
The charges come after a long investigation by West Yorkshire police into the demise of the business.
He will appear before magistrates in Leeds next week, jointly charged with an unnamed 49-year-old man from Hyde, Cheshire.