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The AGF Aarhus midfielder is set to face a probe by the police after lending the money to the convited Nissen who was sent to jail last month due to tax evasion.
Tofting 34, played for Bolton between 2002 and 2003 making 14 appearances but an incident during post-World Cup celebrations in Denmark which lead to an assault meant that the club terminated the contract of the likeable Dane a year early as he spent a short time in jail. He then went to play in China with Tainjin Taida before returning to his hometown club AGF late last year.
On the charges the former Danish international said "It is my money and I will do what I want with it"