City defender Martin Demichelis has been formally charged by the Football Association for betting. As of now, there is no indication Demichelis made bets on any games involving Manchester City. The FA passed new rules for the 2014-15 season banning players, managers, match officials and team staff from betting on worldwide football. From the FA's Rules and Governance page:
Participants covered by the ban will be prohibited from betting, either directly or indirectly, on any football match or competition that takes place anywhere in the world.
The changes to FA Rules from the start of the 2014/15 season will also effect a worldwide ban on betting on any other football-related matter. For example, the transfer of players, employment of managers or team selection. The passing of inside information to somebody that uses the information for betting remains prohibited.
Demichelis has until April 5 to respond to the charges. More on this story as it develops.
UPDATE: Journalist Paul Hirst tweeted that the alleged betting involved foreign games and that City are hoping for a just a fine and no suspension.