Using the word charge is misleading. I notice that Masters himself used it. But to me it implies that there has been some sort of rigorous criminal investigation. This is a situation where an organisation is investigating a breach of its own rules. I assume the PL inquiry will have been a small group of lawyers and accountants who essentially believe City have case to answer. Nothing like the DPP.
The "115 charges" claim, as has been shown on here, is total bollocks. It is just a soundbite for the media. Using language like "charges" and "not guilty" is just fuelling the narrative. I believe it shows the PL has been acting in bad faith from day one when they apparently briefed the media with the "115 charges" quote before they had communicated it to City. Clear and organised as someone once said.