Willie McKay, who is no longer registered as a football agent, but helped his son Mark complete the Sala transfer, is due to appear in court next month.
The Insolvency Service said the Monaco-based Scot will appear at Manchester Magistrates’ Court on July 31.
McKay denies any wrongdoing, however, and says he will vigorously fight the charges.
The ex-agent has been accused of buying a watch and a car when he knew he was going to be declared bankrupt.
“I will be vigorously defending these proceedings”
In a statement, he said: “I wish to make it clear that contrary to the impression given in the media that I have been charged with property fraud.
“The fact is that I have been summoned by the Insolvency Service in the magistrates’ court on an allegation that I bought a watch and a car when I knew I was going to be adjudicated bankrupt.
He added: “I will be vigorously defending these proceedings and have been advised that the law provides an absolute defence against these charges in relation to my situation at the time.”
Sala died, along with pilot David Ibbotson, when the Piper Malibu aircraft they were travelling in came down in the English Channel on January 21.
That prompted an outpouring of grief throughout the footballing world but particularly at the 28-year-old striker’s former club Nantes and Cardiff – the Bluebirds having just made him their record signing.
McKay has explained that he was helping his son Mark, who was acting for Nantes, to complete the deal and that he paid for the flight, and several others related to the transfer, but did not choose the pilot or the plane.