A Thai court accepted a legal case Monday against duty-free giant King Power, which funded the Foxes' rise to Premier League glory in 2016.
The anti-corruption official who brought forth the charges claims King Power failed to hand over an agreed percentage of revenue to the Thai government - allegations the Srivaddhanaprabha family, which owns King Power, denied in July.
King Power's fortune came after the company won exclusive rights to duty-free sales at Bangkok International Airport in 2006. It established a monopoly there, but was also required to pay the government 15 percent of all revenue generated.
The case alleges King Power only forked over 3 percent, according to the Guardian's David Conn.
Conn adds Leicester chairman Vichai Srivaddhanaprabha and his son, Aiyawatt, aren't named specifically as defendants. Airport officials, King Power subsidiaries, and another company executive are alleged to have helped re-route the money.
It's unclear what impact a conviction would have on Leicester. Should the Srivaddhanaprabhas escape direct convictions, they may not breach Premier League rules prohibiting anyone guilty of a criminal offence from owning more than 30 percent of a football club.