Blackpool Football Club president Valeri Belokon has been suspended from the club's board with immediate effect.
The suspension has come about as a result of a judgement in the Paris Court of Appeal, which relates to disputed allegations of money laundering.
This comes after Belokon was victorious in a court battle last month over the club's finances - in a completely separate case.
The club's owners, the Oystons, and Mr Belokon are also set to go head to head in the summer in a separate legal case in the High Court in London as the bitter feud between the two parties continues.
The club issued the following statement: "Blackpool Football Club has today (Wednesday), following a board meeting, suspended director Valeri Belokon and removed him from any associated duties with immediate effect.
"The club, in receipt of a judgement from the Paris Court of Appeal of the French Republic, dated February 21, 2017, holds major concerns about the damning findings that two banks in Latvia and Kyrgyzstan, founded and/or owned by Valeri Belokon, had been involved in large scale money laundering and/or tax evasion.
"Kaspars Varpins, Mr Belokon’s representative at board level, was provided many opportunities to explain the judgement at today’s board meeting, however Mr Varpins refused to comment or give any explanation whatsoever for the judgement, leading to legal advice being sought and this course of action being taken."
The suspension is unlikely to have much effect as Mr Belokon has little say about the day-to-day running of the club and hasn't attended a board meeting in over four years - although he retains his shares in the club.
Ilona Skuja, speaking on behalf of Belokon Holdings, said: “It was stated in the court that there are no grounds in good faith or sensibly to suspect money laundered and therefore the (Segesta’s) application is merely an attempt to subvert the court order and it is a disingenuous application.”