Portsmouth had seemingly risen from the ashes with the arrival of apparently stable new owners but developments in the Baltic state of Lithuania suggest there could be more turbulence ahead.
The potentially damaging banking scandal involving co-owner Vladimir Antonov has taken another twist with an international arrest warrant issued over allegations of serious fraud.
The club still owe creditors millions under the deal that brought the club out of the £135m insolvency.
Portsmouth said they had no fresh comment to make on Wednesday but a conviction would fall foul of the Football League's owners' and directors' test.
That states that anyone found guilty by a competent court of an offence involving a "dishonest act", even if the jurisdiction is outside England and Wales, cannot hold directorial office or significant equity in a Football League club.