The financial crimes of new Sevco lender Andy Ross have quickly been uncovered by internet bampots within hours of the club announcing his involvement.
At 2pm this afternoon the troubled Ibrox club announced a new £6.5m loan facility which has apparently been used to repay Sports Direct and provide the working capital to see the club through to the end of the season.
Among the investors were two new names on the Ibrox scene- Barry Scott and Andy Ross. Both men were announced as Hong Kong based supporters with internet bampots keen to uncover details of their off the radar wealth.
In 2014 Scott and Ross were described as Hong Kong based supporters of English non-league side Workington Reds.
Within two hours it was discovered that a Mr Scott did a runner to New Zealand after using money raised by Aberdeen based Barum House Securities for his personal use. It has now been made clear that the Mr Scott involved is not the lender involved with Mr King.
In 2003 The Telegraph reported: “A spokesman for the FSA said: “We have taken this action because the two individuals have not met the standards of honesty and integrity we require.
“The FSA is serious about taking action against those who abuse the trust placed in them.”
Grampian Police said the case will not be brought to court. It is understood this is because Mr Scott has absconded to New Zealand, and Mrs Gaur’s whereabouts are currently not known.
An hour and a half later Mr Ross came under scrutiny with details emerging of a three year ban imposed by the US Securities and Exchange Commission.
According to the report: “An SEC investigation found that Baker Tilly Hong Kong Limited, its director Andrew Ross, and its former director Helena Kwok ignored red flags surrounding approximately $59 million in related-party transactions reflected in internal accounting records of China North East Petroleum Holdings Limited but not adequately disclosed in year-end 2009 financial statements.
“Baker Tilly and the two accountants failed to plan and implement an appropriate audit response to the related-party transactions, which primarily involved the company, its then-CEO, and his mother. Baker Tilly consequently issued an audit report containing an unqualified opinion on China North East Petroleum’s financial statements.
“Baker Tilly, Ross, and Kwok agreed to settle the SEC’s charges. Baker Tilly must disgorge its audit fees of $75,000 plus prejudgment interest of $9,101, and cannot accept any new U.S. issuer audit clients until an independent consultant has reviewed and certified that the firm’s audit policies and procedures are compliant with SEC regulations and PCAOB standards.
“Ross and Kwok must pay penalties of $20,000 and $10,000 respectively and are barred from practicing as an accountant on behalf of any SEC-regulated entity for at least three years.”
Despite the fanfares that greeted the emergence of Craig Whyte and Dave King their criminality was quickly uncovered using that pesky Google search function.
With toxic Mr King involved and no market prepared to trade shares in the company, UK based investors, with the exception of ageing transport tycoon Dougie Park, have steered clear of being associated with the marble staircase of unsurpassed dignity.
Current directors Paul Murray and John Gilligan have declined to back the latest soft loans venture.
UPDATE: It appears that the Mr Scott that has loaned money to RIFC is not the Mr Scott involved with Barum House Securities. With no AIM listing there is no obligation on RIFC to disclose any information on who has loaned the money. Mr King of course has over 40 tax convictions in South Africa for tax crimes.
CLICK HERE for more details on the three year ban handed to Mr Ross.
And they will feel right at home along with the rest of the Gangsters.
I think we have enough crap of our own to worry about! The way we are losing money under our current management team, we could surpass the sevco boys quite soon.
Cheap choice managers are okay if they are decent, not like the idiot we hung our hats on! To save a milion or two quid on a decent manager we have lost upwards of 25 million in European embarrassments!
How can you lose something that you were never a part of. Please do inform us, well me, who is this mystical manager that guarantees CL qualification every year. What is your previous knowledge of employing football managers. None, so your just bumping your gums. How can sitting at the top of the league with 2 games in hand be “crap”. YOU calling RD an idiot, come on now. What is your theory based on. HH
He’s bloody hopeless !
Glad to see your comment on this Joe guy.
Whoever he is.
About the topic it comes as no surprise to Celtic supporters that Ibrox attracts this type.
They fit in well with King and the other questionable investors at the new club
Joe, Ronny Deila is a cheap option Celtic manager, but it is wrong to call him an idiot, he is a perfectly decent man who was offered the Celtic managers job, you cannot blame him for accepting it.
The man to blame is Peter Lawwell, a club like Celtic or even the old Rangers, are not clubs to employ inexperienced managers. If Ronny Deila was a success as our manager, then Lawwell would keep on going down the cheap option road.
We always need to go down the Martin O’Neill road and employ successful managers who have a good chance of hitting the ground running.
Thanks Joe I said this weeks ago to my pal..If we’d have spent half descent money on a Half decent manager we mite by still in Europe..Thanks again Joe I see I’m not alone..HH
Fit and proper fraudsters right where they belong, £1brokes
HH
Well said Joe!
Birds of a feather flick together.
I’m getting tired of repeating myself, Schoos71 is the only person who seems to get it right
I agree Scoosh71. You can’t lose something you’d never had. MON was a success because he had money to spend and his long ball game was boring no plan B.
He left when he was told there was no more money for players and never had to work for a year as he was still getting money from Celtic as soon as his money from Celtic stopped he started work again. There has been no mention of his wife being ill since he left us. Delia is working with a small budget how can people expect him to qualify for the CL when Man Utd can’t qualify after spending a quarter of a billion pounds, ie £250 million?
If he is a decent and honest man he would admit that he is lacking in most things concerning football,this is one of the worst pool of players ever witnessed at CP and that is some doing,we have a penchant for signing rubbish over the years.I am not privy to the signing policy at CP but it is patently needing re-structuring,wee/weak/slow and lacking in technique ffs.