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RANGERS FOOTBALL CLUB CLEARED FOR SPORT BUT QUESTION MARKS STILL HANG OVER THE ADMINISTRATION OF RFC PLC

By OnlinePubCo | Posted 2 minutes ago | UK

Late on Friday 27th July 2012 the SFA made the announcement that Sevco Scotland Ltd would be granted a temporary license enabling them to compete against Brechin City on the 29th July in the Scottish Challenge Cup.

Giovanni Di Stefano known as the Devil’s Advokat and a shareholder in Rangers Football Club PLC fired a last minute letter to SFA Chief Executive Stewart Regan warning him that in the event RFC were stripped of any previous League Title there would be an “immediate recourse to Court for an injunction.”

The SFA were due to announce the grant of a conditional license to Sevco Scotland Ltd at midday but by 10.57am on Friday after receipt of the letter it cancelled the announcement until later that evening.

“Sevco Scotland Ltd has accepted certain sanctions but there will be no question of stripping sanctions although the SPL reserves its position to investigate a number of matters,” said Di Stefano.

The shareholder has caused considerable turmoil to the SFA/SPL/SFL all of whom had intended erasing the history of RFC PLC a company that was a founder of the Scottish Football Association.

Di Stefano has made public a number of allegations against Craig Whyte, the SFA/SFL/SPL and what he calls “others in high high very high places “that agreed to the annihilation of RFC PLC in order that “their own negligent roles would not be subject to scrutiny,” stated Di Stefano.

The contention according to Di Stefano is that “Rangers Football Club PLC was never insolvent, had the money to pay its day to day liabilities, had money in the bank, and was it not for the money stolen from the company and a delinquent bank reneging on an agreement albeit with a miscreant Director, there was no question of insolvency.”

Whilst the Administrators and the SFA in replies to Di Stefano “note” his serious allegations no one has yet either refuted them or taken legal action.

Yesterday on Twitter Di Stefano went further and contended that “even during Administration RFC PLC proved it was not insolvent.

From Duff & Phelps the Administrators own files and communication dated 10th July 2012 but only received this week despite the “postal company receiving £40,000 for posting letters” Di Stefano made a number of observations.

“Media House PR £124,000 jeez even Cameron did not pay Coulson that and this is payment for THREE months work.”

“Ansarada data providers £20,000.”

“Letters sent out to shareholders billed as £40,000 EXACTLY!!!!”

“Taylor Wessing Sols been paid £1,283,102 plus £116,700 Counsel Fees from 14 Feb to 15 June COULD THAT MONEY not have gone to small creditors.”

“PAYE/NIC £1,752,972 from Feb to June were paid...RFC PLC had plenty money in bank and plenty income...this has been daylight robbery.”

“and they paid their way quite OK it is obviously clear here that RFC PLC have been deliberately defrauded of money and position in league.”

“From FEB to JUNE INCOME of £4,432,986...DURING FRIGGING ADMIN...as I said RFC PLC was NEVER insolvent before and on DP OWN figures not during Admin.”

“Solicitors Taylor Wessing Client Account held £5,300,000 of RFC PLC money.”

“RFC PLC seems not even insolvent DURING admin according to the figures let alone BEFORE.”

“This is what RFC PLC had £10,482,451 from Feb to June assets and cash..this is what they paid out £4,182,164 balance £6,300,287 PLUS.”

“Joint Administrators may draw remuneration £42,760 and £2,930,644 for periods up to 14 February 2012 and 14 February 2012 to 29 June 2012…yet they told me they received nothing.”

“plus another £489,910.50 of time costs, £114,401.00 of time costs,£122,782.75 of time costs,£100,453.75 derive from the more detailed analysis.”

"There are £679,215 of time costs incurred in the period which relate to the Trading Operations of the Club."... another wack in fees.”

"Time costs of £884,165 have been incurred under the heading Strategy Management and Control"...another million quid in fees.”

"The Joint Administrators‟ time costs period 14 February 2012 to 29 June 2012 totals £2,930,644... separately recorded as £2,826,035.50"..

"Joint Administrators‟ pre-appointment time costs of £42,760 is attached at Appendix 4 for the period between 6 and 14 February 2012."

"the Joint Liquidators will review the conduct of the Joint Administrators"..BDO...no way will I allow the pot to call the kettle black.”

Di Stefano had written to Duff & Phelps pointing out the “association between Alessandro Celano a 23% shareholder in Sevco Scotland Ltd and BDO Stoy Hayward the appointed liquidators.”

There is now valuable time gained since The Court of Sessions will not ‘rubber stamp’ the liquidation of RFC PLC without a proper review especially on the obvious inevitable question of conflict.

Over 100 million shares in the public domain and according to the Register 27,776 individual holders all of whom Di Stefano contends “have been openly defrauded.”

The Monaco, Costa Rica, French, United States and Strathclyde Police are all investigating the generic circumstances of how Craig Whyte came to acquire one of the oldest football clubs in the world. Whyte was being investigated since 2006 after his return from Costa Rica to Monaco on allegations of money laundering, insider share dealing and other fraud offences together with a number of other individuals including bankers, accountants, stockbrokers and the usual wheeler dealers that Whyte had surrounded himself.

The Intelligence file on Whyte evidenced that Whyte intended to emulate ex-Italian Premier Silvio Berlusconi owner of AC Milan and enter into the political forum. Tentative approaches had been made to the SNP and the Labour Party with offers of donations in order to retain political support. Craig Whyte saw himself very much in the Scottish Parliament where he thought he would be immune from scrutiny and if his Rangers Football Club continued its success he would survive any criminal investigation.

But unlike Berlusconi who heads a €5 billion media empire Craig Whyte was destined for failure since his audacious bid of Rangers Football Club PLC was based entirely on borrowed money and a bank that simply lied its way into recouping a debt incurred by Sir David Murray who pressurised the SFA into approving the acquisition.

The SFA/SPL preferred to admit Dundee FC to the Premier League rather than Rangers much to the dismay and potential legal challenge from Dunfermline who expected preference.

At a meeting between the SFA and the SPL although the majority of the SPL clubs preferred Dunfermline the decision taken at the last minute was to admit Dundee.

Di Stefano explains “To obtain the SPL share it has to be transferred by RFC PLC and this is now a condition of Sevco Scotland Ltd obtaining the full SFA licence on 3rd August. Since the SPL/SFA had received notifications from me as a shareholder of RFC PLC that I would seek the intervention of the Courts, and the advice they received from their lawyers was that I had a chance of obtaining such, what the SFA/SPL did was to test my own loyalty to the team that I once was part owner namely Dundee FC and which they know I openly support. Dundee got it for that reason.”

Investigators looking at Twitter accounts show some ‘new twitter’ accounts opened shortly after it was announced that Dundee FC would be the club invited to join the SPL and immediately afterwards ‘tweets to Di Stefano’ asking if ‘his loyalty to Dundee was above RFC.’

“There has been some truly dirty dealing in this because those that have openly stolen money and been recipients of stolen money have lots to lose so there are no holds barred. Of course my loyalty as a supporter is to Dundee FC but as a shareholder of RFC PLC never the two feelings shall meet.”

For now the talk is of football again but soon the arena will once again be shifted to the law courts and on-going police enquires in what can only be detrimental to Scottish football.

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well its like wikipedia you write whatever you want before its vetted,you could do the same.

With all the facts he's found my only wish it comes into the mainstream and it will make this summers woes small in comparison.

I could do the same, but if it was lies, it would be exposed fairly soon.

The point is he has uncovered a lot of facts that the media seems to have just white-washed. Most people seem to focus on discrediting the man himself, rather than the points he's making.

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£40,000 for shareholders letters?

Mine was a bad photo copy , with dear sir ( generic letter ) . The only thing with my name & address was the envelope!. Duff & phelps are charlatans and have raped our club for as much ad they could get away with. Once the investigation has been carried I would not be surprised if a few well Kent names pop back up!

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