Former Bannatyne Group finance director Christopher Watson has been charged with fraud and money-laundering offences totalling almost £8m.

Watson has been accused of making electronic cash transfers from company accounts to his personal accounts and those of his businesses between July 2008 and July 2014.

A spokesman for the Crown Prosecution Service said: “These sums of money were allegedly used to gamble, settle personal debts and buy and renovate properties.”

He will appear at Newton Aycliffe Magistrates’ Court in Durham on June 24.

Bannatyne Fitness – the health club chain started by Duncan Bannatyne in 1997 – now comprises more than 60 health clubs across the UK, with many also featuring a Bannatyne Spa.

Watson is not the only former Bannatyne employee to face police questions in recent months. In December, former chief executive and MD of the company Graham Armstrong, was arrested on suspicion of fraud and bailed.