Joorabchian denies 'wrongdoing'

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The warrant is said to relate to an investigation at Brazilian club Corinthians, of which Joorabchian's company MSI is a major investor.

In a statement released to PA Sport, Joorabchian said: "The investigation in Brazil has been rumbling on for some considerable time and apparently involves numerous individuals including the president, club officials and partners of Corinthians Football Club."

Joorabchian insists all his financial dealings were cleared by the Brazilian Central Bank.

"I deny any wrongdoing whatsoever. I have co-operated fully with the authorities in Brazil and have previously offered to speak to them directly, an offer that they have not taken up.

"The investigation has been provoked by the desire of a small group of individuals in Brazil to gain control over Corinthians Football Club. All payments made to Corinthians by MSI were cleared through and approved by the Brazilian Central Bank.

"My Brazilian lawyers are instructed urgently to prevent me being personally involved any longer in this dispute. I am advised, and believe this matter will be resolved very shortly."

The Brazilian authorities have also issued an arrest warrant for Russian billionaire Boris Berezovsky, who is living in exile in London.