The Charles Green charge sheet
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.