The Town striker published his statement on the Ipswich Town website.
In it he says that he will not contest the charges as he cannot afford the legal fees which are estimated to be at least £50,000.
The striker says he has extensive loans and cannot afford the money needed to clear his name.
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David 'Piggy' Powell has been at Northampton Saints for half a century - a former player, former coach and since the late 80s, groundsman.
There'll be a lot of fine weather this Bank Holiday Weekend
There'll be more cloud about today than yesterday but it will be warm. Risk of the odd sharp shower later.