Neuchatel Xamax have been stripped of their license and kicked out of the Swiss Super League less than one year after being taken over by Russian businessman Bulat Chagaev.
The Swiss Football League said in a statement on Wednesday that the decision was taken because the club was suspected of falsifying a bank document produced as a financial guarantee last year.
"The Swiss Football League (SFL) has taken away Neuchatel Xamax's license for participating in championships organised by the SFL," said the statement.
Neuchatel have already had eight points deducted for irregularities in the payment of social security contributions and players' wages.
Chagaev, a businessman who hails from the volatile region of Chechnya, bought the club in May saying that he wanted to take Neuchatel in the Champions League.
He has since sacked four coaches and faced a boycott by fans.