A senior police officer who had been suspended over allegations of gross misconduct and fraud has been found dead on a railway line after being hit by a train.

The body of Assistant Chief Constable Gordon Fraser, from Leicestershire Police, was discovered after officers were called to reports of a man being struck by a train in Aston Magna, Moreton in Marsh, Gloucestershire, yesterday lunchtime.

Mr Fraser was pronounced dead at the scene. The death is not being treated as suspicious, British Transport Police (BTP) said.

Leicestershire Police and Leicestershire Police Authority issued a joint statement in which they said they were "deeply shocked and saddened" by the death.

Mr Fraser was due to appear in court on Monday over a separate charge of perverting the course of justice in connection with a speeding incident.

Merseyside Police confirmed earlier this year they were investigating him following allegations of misconduct and fraud but further details were not disclosed.

They centred around a £2 million timeshare property crash in Florida, a national newspaper reported.

They arose after claims that timeshares were bought with money borrowed from US banks and then offered to other officers for investment as holiday homes, the paper said.

But when the property market slumped the investors were allegedly left out of pocket, it added.

A spokesman for Merseyside Police said in July: "Merseyside Police can confirm that Chief Constable Jon Murphy is conducting an investigation into a Leicestershire Constabulary officer, two officers from West Midlands Police and a member of the public following allegations of gross misconduct and fraud. The investigation is currently ongoing so it would be inappropriate to comment further at this time."

Mr Fraser had been suspended from duty pending the investigation since December 2010.

He was due to appear before St Albans magistrates alongside his wife Teresa, a serving officer with West Midlands Police, on Monday.

It is alleged Mrs Fraser, who has been suspended from her force pending the outcome of the investigation, accepted responsibility for a speeding offence committed by her husband in Strathclyde last September.