For years he had cultivated the image of the wealthy ex-pat and just as keen;y kept at bay the internet notion that he was the Craig Whyte of Johannesburg.
On Friday at the Court of Session in Edinburgh Dave King’s finances were exposed to all. Either he had duped his QC, Lord Davidson, or he was indeed penniless as Davidson told Lord Bannatyne.
King has been around the scene at Ibrox since the turn of the century without being exposed to the sort of scrutiny that revealed that Fergus McCann had ran off to Canada owing the Croy Celtic Supporters Club three bob in dues.
A link to a club from Ibrox bestows special privileges with no serious questioning of financing being made public. Ask Paul Murray, known as potless in polite Borders company.
Even with his involvement in the liquidation of the old club, even with his multiple charges in South Africa gaining ‘a favourable result’ and his complete failure to deliver on promises made to Sevco fans in 2015 King has still managed to remain a wealthy investor to most of the gullibles.
Just as Whyte led them up a certain path in 2011 King is repeating the trick with James McNeill QC explaining the motivations of the South African based criminal on Friday.
The Daily Record reported: “Mr King is not some poor businessman who does not know the workings of the Company Act.
“This is not someone who is a poor innocent. He didn’t come before the panel and say ‘I didn’t realise’.
“He decided not to appear so he could not be cross examined.”
McNeill added: “Mr King has used a trust structure which allows him to plead to having a lack of funds to avoid his obligations.
“There is clear evidence available to the court that when it suited Mr King the trust funds were available in order to buy the shares.
“The court should make an order in order to ensure compliance.”
A verdict on the Takeover Panel ruling isn’t expected until the end of November by which time King will be expected to have set the date for the club AGM with another going concern warning certain to be included by the auditors.