SEVCO 5088 have thrown the complex structure of Rangers International Football Club into further doubt today by claiming that they have been the victims of fraud.
Earlier today the company published it’s accounts or the years to 31 August 2013, 2014, 2015 and 2016 with the same statement included for each year.
According to the accounts the company has two directors- Douglas Ware and Aidan Earley.
Today’s accounts claim: “The company believes that it has been the victim of fraud, and as such, the directors are not satisfied that they have all the accounting records of the company and these financial statement are therefore prepared on the basis of the accounting information that the directors do have.”
Sevco 5088 was the company that bought the assets of Rangers (IL) from Duff & Phelps in June 2012 who had been appointed as administrators.
Soon afterwards the assets, basically Murray Park and Ibrox Stadium, were transferred from Sevco 5088 to Sevco Scotland.
Charles Green then changed the name to Rangers International Football Club and pulled of a share issue in December 2012 that raised almost £22m.
The complex structure of the company and varying claims on the assets has been the subject of speculation for some time.
In one recording from the Charlotte Fakes twitter account Charles Green is heard saying ‘So you are Sevco’ to Craig Whyte.
With question marks against the ownership of the assets and a Court of Session order out against Dave King for failing to respond to the ruling from the Takeover Panel it’s highly unlikely that there will be a further share issue in the debt ridden company.
CLICK HERE to view Sevco 5088 filing history.
