Undercover reports at the Daily Record have exposed Craig Whyte for setting up a firm that promises to ‘do a Rangers’ for financially distressed companies!
Apparently the former billionaire has uncovered a way to write off debts, transfer assets then set up a new firm and pretend that nothing has changed.
The Record gives it the full shock horror treatment while their sports department discuss #goingfor55 and happily repeat all the claims of a Tribute Act being the most successful club in the world. The Tribute Act isn’t an offshoot of Egyptian side Al Ahly.
In November 2010 the Record introduced Whyte to their army of readers, explaining how he became Scotland’s youngest billionaire, incredibly his wealth had been build up off the radar of any previous media coverage.
Whyte drove Dave Murray’s asking price down from £30m to just £1 when the deal was completed in May 2011 but alas for our local hero Ally McCoist’s failings on the pitch led to administration nine months later quickly followed by going into liquidation.
Two hundred and sixty seven creditors were left high and dry including HMRC. Local florists, newsagents, taxi firms and face painters may not have lost out if the real business background of the Motherwell billionaire had been researched and published before he flicked a pound coin across the table to a grateful Sir Dave.
In November 2010 the Record had print circulation of 303, 031. More than 200,000 of those readers have stopped buying over the last decade.
CLICK HERE for the undercover report into the former billionaire.