Rangers case is branded a mess after Whyte acquitted of fraud

Joy for former club owner earlier found guilty of contempt of court

CRAIG Whyte has been cleared of all charges relating to his takeover of Rangers FC in a case described as a mess.

After deliberating for less than two hours, a jury found him not guilty of fraud and of “financial assistance” during his 2011 purchase of the club from Sir David Murray. Speaking at the end of a six-week trial for which he claimed Legal Aid, Mr Whyte, said yesterday: “I’m just delighted with the outcome.”

But it has emerged he was found guilty of contempt of court in July 2016 for initially refusing to comply with a legal order to provide details of his financial affairs the case.

In 2014, Mr Whyte was banned from holding a directorship of a company for 15 years. At that time, Lord Tyre ruled that the case against him had been overwhelming, saying Mr Whyte placed his own interests before those of the club and that his conduct was “characterised by dishonesty”.

Before Mr Whyte took charge at Rangers in 2011, the Ibrox club was 85 per cent owned by Sir David Murray – but was sold for £1 with conditions including that

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with he must pay off an £18 million debt to Lloyds Banking Group. Nine months later, the business went into administration and was subsequently liquidated.

Mr Whyte had prepared a deal to sell off rights to three years of future season tickets to investment firm Ticketus in a bid to raise £24m to fulfil his agreement commitment, secured by personal guarantees.

Mr Whyte was the last man standing in the dock after fraud charges were dropped against former Rangers administrators David Whitehouse and Paul Clark, former chief executive Charles Green, solicitor Gary Withey, David Grier, senior partner at accountancy Duff and Phelps, as well as ex-Rangers director Imran Ahmad.

Speaking after the verdict, Rangers Supporters’ Association general secretary Drew Roberton said: “A mess just about sums it up. It looks like the prosecutors have made a pigs’ ear of things.

“What has happened has been deemed legal. Craig Whyte legitimately, by law, took over ownership of Rangers. If today brings everything to a close, then the only thing for it is for the club to move forward as quickly as possible.”

The fraud allegation claimed Mr Whyte pretended to Sir David Murray and others that funds had been available to make agreed payments.

But Donald Findlay QC, defending, who said Mr Whyte was the “fall guy” for the state of the club, said the fact the agreement referred to using “third party funding” implied the money had conditions attached, so there was no deception and so no fraud. Former Rangers chairman Alistair Johnston, who was criticised during the trial over his running of Rangers, said earlier: “If indeed Mr Whyte is found not guilty of being in contravention of the Companies Act, it doesn’t exonerate him from his villainy towards Rangers Football Club.

“Candidly, he should have been charged with murder, murder of an institution, destruction of people’s passion, destruction of the spirit of hundreds of thousands of Rangers fans.”