Guardian 4,281 Posted May 2, 2012 Share Posted May 2, 2012 Was he milking Rangers to keep his empire going or was he just robbing everyone ? The stockbroker where Rangers chairman Craig Whyte was company secretary is being wound up with a cash shortfall of £3.4m.Mr Whyte left the board of Pritchard Stockbroker, based in Bournemouth, at the time Rangers was placed in administration.His main finance firm, Liberty Capital, is thought to have provided £2m in a credit facility for Pritchard's.But efforts to call on this to meet the cash shortfall have come to nothing.Pritchard's was placed in a special category of administration for finance firms by the Financial Services Authority (FSA) on 10 February, four days before Rangers was placed in administration.The financial regulator said the stockbroker had failed to protect client funds, and had used them for its own expenses.A statement by administrators Mazar's said there were client claims against Pritchard's of £27.1m, and that could rise.But it added only £23.7m was available.The insolvency accountants are in touch with the managers of the Financial Services Compensation Scheme to ensure they know about the case.Liberty CapitalThe statement of the administrators' activities since 10 February also suggested that Craig Whyte's main finance company, Liberty Capital, which is based in the British Virgin Islands, provided a £2m funding facility.The statement said they had been told this by Pritchard's directors, but the special administrators had been unable to find any documents that prove that.Mazar's added: "A request was made by the FSA for the company to call the facility to meet the company's liquidity gap. However, no funds were forthcoming."The statement is a sharp increase in the amount of money involved in Pritchard's administration, as well as in the number of clients.In February, Pritchard's said 6,400 clients could be affected by the administration, but that has risen to 11,100. Quote Link to post Share on other sites More sharing options...
WVB 2,560 Posted May 2, 2012 Share Posted May 2, 2012 Unluckiest businessman on earth, poor Craig. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 2, 2012 Share Posted May 2, 2012 there goes the arsenal shares money. Quote Link to post Share on other sites More sharing options...
Weird_Beard 99 Posted May 2, 2012 Share Posted May 2, 2012 Was he milking Rangers to keep his empire going or was he just robbing everyone ? The stockbroker where Rangers chairman Craig Whyte was company secretary is being wound up with a cash shortfall of £3.4m.Mr Whyte left the board of Pritchard Stockbroker, based in Bournemouth, at the time Rangers was placed in administration.His main finance firm, Rangers FC, is thought to have provided £2m in a credit facility for Pritchard's.But efforts to call on this to meet the cash shortfall have come to nothing.Pritchard's was placed in a special category of administration for finance firms by the Financial Services Authority (FSA) on 10 February, four days before Rangers was placed in administration.The financial regulator said the stockbroker had failed to protect client funds, and had used them for its own expenses.A statement by administrators Mazar's said there were client claims against Pritchard's of £27.1m, and that could rise.But it added only £23.7m was available.The insolvency accountants are in touch with the managers of the Financial Services Compensation Scheme to ensure they know about the case.Liberty CapitalThe statement of the administrators' activities since 10 February also suggested that Craig Whyte's main finance company, Liberty Capital, which is based in the British Virgin Islands, provided a £2m funding facility.The statement said they had been told this by Pritchard's directors, but the special administrators had been unable to find any documents that prove that.Mazar's added: "A request was made by the FSA for the company to call the facility to meet the company's liquidity gap. However, no funds were forthcoming."The statement is a sharp increase in the amount of money involved in Pritchard's administration, as well as in the number of clients.In February, Pritchard's said 6,400 clients could be affected by the administration, but that has risen to 11,100.Fixed that for you. I thought this had already happened a few months ago but maybe they where just in administration and he had already bunked off.Makes you sick though doesn't it. Quote Link to post Share on other sites More sharing options...
pcbear 10,924 Posted May 2, 2012 Share Posted May 2, 2012 Wound up, i can just about feel that vibe along with many others, i bet old teflon bollocks never lost a penny piece. Quote Link to post Share on other sites More sharing options...
A.T.G 10,773 Posted May 2, 2012 Share Posted May 2, 2012 This man is a failureAnd a crookI cant believe he was allowed keys to the greatest club on earth Quote Link to post Share on other sites More sharing options...
Mr Struth 137 Posted May 2, 2012 Share Posted May 2, 2012 My own work have an FSA Compensation case over this at the moment. It's a terrible mess. If client money has been used and not protected there are criminal implications here. Quote Link to post Share on other sites More sharing options...
caseyjones 3,009 Posted May 2, 2012 Share Posted May 2, 2012 This man is a failureAnd a crookI cant believe he was allowed keys to the greatest club on earthYou don't think this was planned? You don't think he made money out of it? Quote Link to post Share on other sites More sharing options...
A.T.G 10,773 Posted May 2, 2012 Share Posted May 2, 2012 You don't think this was planned? You don't think he made money out of it?I dont know if it was planned by SDM or CWI know he made money out of it Quote Link to post Share on other sites More sharing options...
TheLawMan 6,240 Posted May 2, 2012 Share Posted May 2, 2012 This is just timmy media talking rubbish.Whytey is a billionaire. Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted May 2, 2012 Share Posted May 2, 2012 Unluckiest businessman on earth, poor Craig.I think he's been jolly lucky, until he decided to meddle in Rangers ... all of a sudden he's no longer able to operate in the shadows. I just don't know what level of stupidity or desperation made him take a punt on the Gers. Quote Link to post Share on other sites More sharing options...
loyalfollower 1,543 Posted May 2, 2012 Share Posted May 2, 2012 I think he's been jolly lucky, until he decided to meddle in Rangers ... all of a sudden he's no longer able to operate in the shadows. I just don't know what level of stupidity or desperation made him take a punt on the Gers.I'll tell you why. Because in future business ventures by this criminal he'll just use other peoples names to front his business the same way he does with money. Hes just a cunt Quote Link to post Share on other sites More sharing options...
BritishBear 34 Posted May 2, 2012 Share Posted May 2, 2012 A statement by administrators Mazar's said there were client claims against Pritchard's of £27.1mIf you follow the SFA concept of justice, then the FSA (uncanny) will be issuing proceedings against these poor investors.Other bodies can see this fucking crook for what he is, why can't the SFA. Quote Link to post Share on other sites More sharing options...
Prince of Orange 84 Posted May 2, 2012 Share Posted May 2, 2012 Wonder if D&P were the admin Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted May 2, 2012 Share Posted May 2, 2012 Wonder if D&P were the adminWonder no more:A statement by administrators Mazar's said there were client claims against Pritchard's of £27.1m, and that could rise. Quote Link to post Share on other sites More sharing options...
El Carpintero 546 Posted May 2, 2012 Share Posted May 2, 2012 This is just timmy media talking rubbish.Whytey is a billionaire. Quote Link to post Share on other sites More sharing options...
Thermopylae 15,287 Posted May 2, 2012 Share Posted May 2, 2012 Everywhere this guy goes it's the death and destruction of businesses ... he's like a one man plague of locusts Quote Link to post Share on other sites More sharing options...
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