The Daily Record has published details of the lengthy charge sheet facing Sevco founder Charles Green.
Yesterday a club statement confirmed that the businessman from Yorkshire would be taking court action to ensure that the club picks up the tab for his legal costs.
When the BBC broke that story on Wednesday afternoon the Record published a denial before performing a 180 degree turn following yesterday’s announcement.
Ring fencing Mr Green’s legal costs could put an unbearable strain on Sevco’s fragile finances as court action attempts to unravel how assets once rated at around £100,000,000 were transferred from Rangers (IL) to Sevco Scotland with Sevco 5088 involved somewhere in the transactions. Ibrox Stadium and Murray Park were sold by Duff and Phelps to Sevco for £5.5m.
Highlighting the charges against Green the Record claims: “He is accused of participating in a fraudulent scheme to acquire the business and assets of Rangers Football Club for Sevco Scotland at less than their true value.
“He is accused of conducting a fraudulent initial pubic offering by which substantial equity capital was raised.
“The defender and/or Sevco Scotland received the fruits of that conduct in the form of the acquisition of the business and assets of Rangers and the funds raised by means of the initial public offering.”
The writ adds: “The criminal proceedings are extremely complex. The charges extend to 20 pages of narrative.
“The indictment indicates in excess of 1000 documentary productions and in excess of 250 witnesses.
“The pursuer is accused of fraudulently obtaining assets worth many millions of pounds.”
As well as placing a massive strain on Mark Warburton’s transfer warchest the court action could put pressure on the SFA to explain why they negotiated a five way agreement to provide Mr Green with a licence for his football club.
What an embarrassment to Scottish football this lot are ……..Rotten just like their Fans .
SeanBhoy………You are dead right.
Tick Tock….
Still no mention of David Murray or Campbell Ogilvie getting a knock at the door, that’s the biggest crime of all!
Secret 5 way agreement?
Tells you everything!
Can’t wait for the s#it to hit the fan.
HH
You have to hand it to the bold Charlie Boy , he’s got every avenue covered.
A cautionary note guys….
Remember…This is Scotland…
The Brotherhood looks after its own…From Top to bottom.
Ain’t that the truth
Aye, prepare for an even greater number of “honest mistakes” from the SpecSavers-sponsored man in the middle. Thems always cheats most when they are at their most desperate …
And always have????
Barlinnies Green and Whyte.
Lol
Should be good listening to the SFA explain why they let sevco investigate themselves, and why they where happy with the outcome. How many other clubs have been allowed to do this.
HH
Without pre judging the innocence or guilt of the various defendants the fall out from the court proceedings could be nuclear.
If some of the accused think they are going down then it would be no surprise to see deals being struck and others incriminated …………though innocent till proven guilty.
If connections between Green, Whyte and the other defendants are established what does that say about the SFA sponsored investigation specifically directed at finding links between Green and Whyte.
Those charged with carrying out the investigation found no links, or so we are told.
There must be those within the football authorities who will not be looking forward to the likely fall out from the court cases, 5 way agreement ET Al.
No links found between Green and Whyte……….really?
The bungled, on purpose, LNS enquiry…..who set the parameters?
The quite ludicrous Bryson ruling that the dozens of players enjoying EBT ‘ S were registered legally because at the time of the original registrations the SFA were not aware of the side letters, so everything was fine and no retrospective action could be taken against the club.
Perhaps someone will cough to granting the 2011 licence to play in Europe despite the club being unable to meet the UEFA requirements.
Oh and the period of cheating goes way back beyond the DOS/EBT payments as confirmed recently on air by Derek Ferguson when he informed us that Mo Johnson had £1m deposited in a Swiss bank account by SDM to secure his signature……HMRC please note.
And only those still believing in the tooth fairy would accept that the English internationalist players were lured to Ibrox to enjoy the European football denied to them following Heysel…….you can bet your bottom dollar that the monetary perks were equally if not more attractive.
Did Mo and his English team mates have details of their remueration lodged with the SFA or were simple administration errors the order of the day way back then.
If there are Rangers fans out there who think that the court proceedings are great news and a path to closure for them, boy are they in for a shock.
All the stuff hidden by the football authorities or kept under wraps by an all knowing media will be out there for all to see finally……….even the in the know bloggers would be on a voyage of discovery.
Bring it on
Hopefully some of them were wired, though I’m sure the honorable members of the SFA / SPL / SPFL would never stoop to any convenient disposal of documents …
How the fook can we find out details of this 5 way agreement troops? Can the freedom of information act not be used? Lol
Dodgy Dave the Queen of bigotdome will be quaking in his mansion in South Africa at the thought of paying someone else’s fees haga
I have got 10 laughing bags and have them all going off simultaneously in a bar L.