BIRMINGHAM City managing director Karren Brady was arrested and released on bail on Tuesday as part of an investigation into alleged corruption in English football.
The Dorridge resident, who was first arrested last April, was questioned by City of London Police on suspicion of a further offence.
Last year the 39-year-old was quizzed on suspicion of conspiracy to defraud and false accounting alongside David Sullivan, but the co-owner was not required to answer bail earlier in the week.
Officers arrested a series of high-profile football figures in a controversial series of raids in 2007, and former Portsmouth boss Harry Redknapp, the club’s chief executive Peter Storrie, former chairman Milan Mandaric, former player Andy Faye and agent Willie McKay are all believed to be on bail.
On Tuesday a City of London Police spokeswoman said: “A 39-year-old woman was arrested on suspicion of a further offence as part of the ongoing football investigation.
“For operational reasons, it is inappropriate to provide any further detail at this stage.
“We have been working with HM Revenue & Customs (HMRC) from the outset of the investigation.
“The investigation has always focused on money laundering.
“The Fraud Prosecution Service, which is part of the Criminal Prosecution Service (CPS) has identified that tax offences may be involved and further work is now taking place with the HMRC to determine the final outcome. The same seven people, one woman and six men, remain involved.”
Successful businesswomen Brady who is also chairman of Kerrang! magazine and non-executive director of Channel 4, Mothercare and Sport England has ‘vehemently denied’ any wrongdoing.
A statement from the Championship club read: “Birmingham City FC would like to confirm that Karren Brady has not been charged with anything and vehemently denies any wrong doing.
“The new ‘arrest’ as stated by the police this evening relates to exactly the same two players that both David Sullivan and Karren Brady have already been arrested and questioned for and it simply confirms that the police are alleging PAYE and NI offences in relation to these two players.
“In the fullness of time we believe the public will see that no offence has been committed by anyone at BCFC. The club continues to assist the police with their enquires and have answered every question put to them.”