“The club has been informed that Wally has been charged by the FA for misconduct under FA Rule E1(b) in respect of 8 bets placed on football matches between 30 November 2013 and 12 July 2019.

“Given the seriousness of this breach in FA regulations, the club has decided to suspend Wally with immediate effect, giving time for the club and Dons Trust boards to look at the allegations more closely and make a further announcement in due course.”

The 58-year-old coach, who had a spell in charge at Brentford earlier in his career, took charge at the Cherry Red Records Stadium in December last year.

He kept the club up on goal difference last season as they finished with a run of five wins and five draws in their final 11 games.

However, they are without a win in 12 outings in all competitions to date during the current campaign and have collected just three league points from a possible 30 to sit a point off the foot of the table with only Bolton, who have had 12 points deducted, worse off.

Assistant manager Glyn Hodges will take charge of team affairs for Saturday’s trip to Peterborough.