Let M be a closed manifold and α: π1 (M) → Un a representation. We give a purely K-theoretic description of the associated element in the K-theory group of M with ℝ/ℤ-coefficients ([α] ∈ K1 (M; ℝ/ℤ)). To that end, it is convenient to describe the ℝ/ℤ-K-theory as a relative K-theory of the unital inclusion of ℂ into a finite von Neumann algebra B. We use the following fact: there is, associated with α, a finite von Neumann algebra B together with a flat bundle ℰ → M with fibers B, such that Eα ⊗ ℰ is canonically isomorphic with ℂn ⊗ ℰ, where Eα denotes the flat bundle with fiber ℂn associated with α. We also discuss the spectral flow and rho type description of the pairing of the class [α] with the K-homology class of an elliptic selfadjoint (pseudo)-differential operator D of order 1.