Birmingham City suspend shares after arrests of Sullivan and Brady

Shares in Birmingham City were suspended on the London Stock Exchange today amid a corruption investigation.

Trading in the club's shares was halted "pending an announcement", after it emerged managing director Karren Brady and co-owner David Sullivan had been interviewed.

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Brady, 39, and Sullivan, 59, were questioned and bailed by officers from City of London's economic crime unit, who raided the club's offices last month.

At the time, Blues officials denied anyone associated with the club was under suspicion.

But the club confirmed last night the pair were interviewed by appointment and were happy to co-operate with police.

Detectives from City of London Police investigating alleged corruption in English football made seven arrests as part of the same inquiry last November.

A Birmingham spokesman said last night the club was "fully committed" to helping police with their inquiries.

He said: "David Sullivan and Karren Brady, on behalf of Birmingham City Football Club, were invited to cooperate with a City of London Police investigation and have happily done so.

"By long-standing appointment, they have willingly attended interviews today.

"Birmingham City Football Club is fully committed to helping the police with their inquiries.

"For the avoidance of doubt, no charges have been brought.

"We have been requested by the police not to comment further whilst their inquiry is ongoing."

Detectives confirmed they questioned a 59-year-old man and a 39-year-old woman on suspicion of conspiracy to defraud and false accounting.

They were released on bail, police confirmed.

Brady, 39, became the UK's youngest managing director when Birmingham City floated on the stock market in 1997.

She is also non-executive director of Channel 4, Mothercare and Sport England.

Sullivan, 59, the multi-millionaire former proprietor of the Daily Sport and Sunday Sport, co-owns Birmingham City with brothers David and Ralph Gold.

Brady made no comment as she left her home in Knowle, Solihull, shortly before 8am today.

Dressed in a dark suit, she left the gated property at the wheel of a black 4x4 Porsche.

A short statement issued by the London Stock Exchange's 'Aim' index read: "At the request of the company trading on Aim for the under-mentioned securities has been temporarily suspended from 10/04/2008 7.30am, pending an announcement."

Shares in the company had been selling for 35.5p until the suspension announcement which came half an hour before the start of trading.

Today there was no sign of Sullivan at his gated mansion in Theydon Bois in Essex.