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Former Rangers owner Craig Whyte released on bail after appearing in court over his purchase of Ibrox club

Nov 28, 2014 16:39 By Record Reporter

WHYTE appeared from custody at Glasgow Sheriff Court this afternoon to face charges in connection with a probe into the alleged fraudulent purchase of Rangers in 2011.

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SNS/Sammy TurnerCraig Whyte leaves Glasgow Sheriff Court after being released on bail

FORMER Rangers owner Craig Whyte has appeared in court accused of plotting a fraudulent takeover of the Ibrox club.

Whyte was in the dock at Glasgow Sheriff Court 24 hours after arriving back in the UK having been detained in Mexico.

The 43-year-old faced a string of allegations during a private hearing in courtroom number three.

These included claims he funded a controlling share in Rangers by selling off season tickets - after pretending to then chairman Sir David Murray he had cash of his own.

It is also alleged a failure to stump up for outstanding VAT and National Insurance payments plunged Rangers into administration.

Whyte made no plea or declaration to a charge of being involved in a two-year fraudulent scheme and a second allegation under the Companies Act.

Whyte appeared from custody this afternoon two days after being arrested in Mexico. He was flown back to the UK yesterday and was arrested at Heathrow Airport in London before being transported to Glasgow.

Legal papers claim Whyte pretended to Sir David Murray and the board of directors that he had "sufficient funds to acquire controlling shareholding" in Rangers.

This is said to have "induced" the board to agree to the sale to Whyte.

Whyte is then accused of pretending he would provide £5m to buy players, that he would fork out £2.8m for a tax liability and use £1.7m to settle "agreed capital expenditure".

Other allegations listed in the charge include an accusation that Whyte was part of a claim to the Ticketus firm that David Murray was aware the purchase was being funded by selling season tickets.

Ticketus are said to have then entered into an agreement to acquire three years of season tickets.

It is further alleged Whyte pretended to the SFA that he had not been disqualified from being a director leading them to believe he was a "fit and proper person" to take control of a club.

The charge concludes that Whyte got the shareholding by fraud and that he failed to provide contracted funds for the "continued operation" of the club - witholding payment of VAT, PAYE and NI contributions from HMRC.

It is said this caused the club to enter into administration.

The second charge under the Companies Act is over a number of days in May 2011.

It is claimed funds from an agreement with Ticketus were used to "to meet obligations as purchaser of the club" - in particular £18.2m was paid to Lloyds Bank.

The charge also states funding of the "acquisition of the controlling shareholding" was made by "selling an asset of the club" - the income from the sale of season tickets."

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To be fair he was a total charlatan.

Just think .... If we had made it past Maribor and whoever else it was (I was Pissed by then to be honest with you and totally Pissed off) then he may still be here.

If he had been owner if ally would have got us in the champions league and the windfall that would bring, he.whyte, may have got away with his plan.

tell the board I have capital . Hope ally gets into champions league. Stay for a few years use money from champions league to pay tax and vat etc without spending on the team then sell as on as a going concern and walk with a few million.

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