DEFLATED Newcastle United fans have spoken of their disappointment following the launch of a fraud investigation two days after the club won promotion to the Premier League.

Dispirited fans, jubilant just 36 hours ago after beating Preston 4-1, said the arrest of managing director Lee Charnley, was both ‘shocking, but no surprise’.

With weary resignation, supporters at St James’ Park this morning suggested the dawn raid by Her Majesty's Revenue and Customs (HMRC) was just another dip in the roller coaster ride of following the Magpies.

Lifelong supporter David Emery, 54, from Stannington, said: “It is disappointing after the season we have had, but it is Newcastle United.

“Obviously, we need to know the facts and see if the allegations are true.

“It is very early days, but there will be a sense of acceptance as it is Newcastle and there is doom and gloom, but let’s hope it does not affect plans for the manager or his position.

“He has done what he has done and I was reading he needs a £100 million war chest so this could affect that.

“The atmosphere was amazing on Monday and we had done what we needed to do. Then you hear this and think ‘why us again’.

“Other teams will just be laughing.”

- Newcastle United raided in fraud investigation 

Season ticket holder David Thompson, 67, from Blyth, was also at the Preston game on Monday.

He said: “There was a fabulous atmosphere the other day. It is never simple here.

“I just hope they do their business honestly. It is shocking. Just when you think you are getting on a level playing field with Newcastle something else happens that you don’t expect.”

It is understood the inquiry is concerned with potential fraud offences involving tax and National Insurance payments concerning player transfers between clubs in England and France, as well as image rights, benefits and agent payments.

Officials in the UK have raided premises at both Newcastle United and West Ham and it is understood there have also been raids in France.

Newcastle United blog writer Ed Harrison has said: “Who would have thought this could happen just two days after we achieved our dream of getting back to the Premier League and it came out about the exact same time after our players reported back to training for their first season after being promoted.

“You cannot make this stuff up. Just when everything is looking perfect at the club – this happens.

“We cannot judge what has happened but this will no doubt stain the very good name of Newcastle United Football Club around the world. This could be devastating. We are absolutely staggered by this.”