John Russell and Mike Lewis are accused of defrauding the club
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Two former directors of Exeter City Football Club have appeared before Exeter Crown Court following a police fraud squad investigation.
Ex-chairman John Russell, 48, from Brighouse, West Yorkshire and 63-year-old Mike Lewis, from Swansea are accused of conspiracy to defraud.
The pair appeared at Exeter Crown Court for a preliminary hearing.
The alleged offences, involving the defrauding of creditors, were committed between April 2002 and May 2003.
Other charges include obtaining pecuniary advantage by deception and carrying on a business.
Police conducted a 20-month investigation into alleged financial irregularities at the football club.
The case was adjourned until 13 May and the defendants' unconditional bail was extended.