After 11 months of innuendo and unanswered questions the Sun today publish confirmation that Charles Green was a frontman for Craig Whyte. The news will be a bombshell to many but few in the Celtic online community will be surprised.
The Sun today report that Craig Whyte and partner, Aiden Earley, are majority shareholders in Sevco 5088 Ltd, the company which bought Ibrox, Murray Park and other assets from Rangers’ administrators’ Duff and Phelps.
They also claim Charles Green subsequently transferred Sevco 5088’s assets into Sevco Scotland Ltd, which Whyte said was done without his permission. Green was given considerable opportunity to respond to the claims but despite pages of comment does not deny the central claim that Whyte and Earley were majority shareholders in the company which purchased assets from Duff and Phelps. The rest of the story amounts to little more than gratuitous detail.
Where does this leave things?
Whyte’s QC has started legal action, seeking control of Ibrox and other assets.
Duff and Phelps (presumably unknowingly) discretely sold Rangers assets to the man who appointed them and who is currently subject to an investigation into the collapse of the club. Rangers’ liquidators, BDO, can cancel the sale of assets and claim them for creditors if they believe it was not conducted in an appropriate manner – and this is anything but appropriate.
When Sevco 5088 Ltd was negotiating with the SFA Green assured the SFA that Whyte was not part of his consortium. This was a condition of the Newco being granted associate membership. The SFA are now duty bound to investigate (although with president Campbell Ogilvie in place make no assumptions here).
What has any of this to do with St Mirren, you may ask?
St Mirren chairman, Stewart Gilmour, appears to have made a pact with Charles Green, who I hear has given Green his assurance that he will vote against league reconstruction plans, which the SPL are due to vote on 15 April.
Questions like who owns Ibrox, whether the Newco is a legitimate associate membership of the SFA, whether BDO will declare the sale to Sevco 5088 void, in the event this circus makes it to next season, whether anyone will buy tickets to the shambles, all remain unanswered….
…but Stewart Gilmour is making plans with Charles Green. St Mirren fans should be outraged. Mr Gilmour should be careful who he does deals with.[calameo code=0003901714557cf2d2048 lang=en page=134 hidelinks=1 width=100% height=500]
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Christopher Biggins to pkay Ally in the film about Sevco.
An Dun
18:13 on
5 April, 2013
Anyone know how chuckles transferred the body parts of Rangers (IL) from Whyte’s Sevco 5088 to his Sevco Scotland ?
That’s the bit I don’t get – how did he not need Whyte’s signature ?
++++++++++++++++++++++
Clip Art?
An Dun
I believe thats the bit Whytes contesting. Also apparently Whyte has signatures from Green confirming he was acting FOR Whyte.
DonuplikeakipperCFC
an dun
Puzzles me too. I think it may be because what they were doing was illegal ie Whyte couldn’t just buy “his own” the assets from the administrators at a knockdown price so had an unwritten agreement with Green’s mob.
A bit like me and you agreeing to steal a car then split the sale price. There would be little point in us producing a written contract beforehand.
I could be talking nonsense here as this world of insolvency baffles me at times.
Great article JF – looking out for ‘rangers’ fans too – admirable.
James Forrst great article
Sally is conflicted in giving his views on the Green/Whyte Sevco operation. Green gave him £500k shares to keep him on board. Once Sally realises they are worthless , he will be attacking Green just like Whyte before him.
Campbell Ogilvis wife had shares in he oldco , if I remember correctly. I wonder if she invested in Sevcos share issue, or did Campbell warn her it was a dodgy venture (with Greens backers unknown ).
Come on Campbell ……. Surely there is something else you can pin on Lenny. I am not sure he shaved today.
And just one clicked ‘Fragments’ on amazon
twomacaroons
So Charlie thought he’d transfer the assets away from the majority share holder, into his own company and that he’d get away with this !?
This story is unbelievable ! What an absolute clusterf@ck.
googybhoy ♥ Celtic
Can Sally no play himself, after all, he was pure brilliant in ‘A Shot at Glory’!
I heard the huns have only sold 6, 000 tickets for the qp game.
How many went to their first encounter this season?
After todays revelations I would be surprised most of them even turn up.
Most likely we’ll have more at the demo tomorrow.
This stuff is breathtaking. We can all make the usual jokes but their is nothing funny about this. This is Fraud on a Grand Scale, there are a lot of victims out there from small Creditors to Hector but make no mistake if they get away it, Celtic & their supporters are also victims.
I wonder if this is enough to get Mark Daly and/or Thommo back on the case?
Seems to be a rich vein just waiting to be tapped if only someone, somewhere had the inclination.
Surely the SFA can’t just ignore all this? – surely???
shortbread now sounds like they are sharing the craigy tapes and 8 page letter
@Pmacgiollabhain
I spoke to BDO press office today. Their RFC team are well aware of the new Craig Whyte allegations.
lennybhoy…supporting neil lennon and cfc until i die
17:25 on
5 April, 2013
They are more Stan and Ollie, they certainly give everyone a good laugh.
I worry at the latest revelations from our Hero from the point of view that he has threatened but failed to follow through on his threats to take legal action against those who have wronged him, time will tell I suppose…:)
Keep the Faith!
Hail Hail!
http://www.youtube.com/watch?v=MhGeH07lo5M
http://www.youtube.com/watch?v=ISWOrI0WaLs
10000 wullnae be enough.
Make sure you get everyone you have influence over, attends the FAC event.
Green v Whyte
My money is on Whyte.
An Dun
That would be £5m worth of assets now valued at £50m
SSB going nowhere near chuck……embarrassing
Doc is Neil Lennon 18:29 :
lol…what was it Hardy used to say…”that’s another fine mess you’ve got me into”
Stan and Laurel they shall be known as then…:)
Keep the Faith!
Hail Hail!
jmccormick
17:27 on 5 April, 2013
Fair comment, although I disagree about how he handled the questions. He seemed out of his depth, if you were in his position knowing the questions would come your way, would you not have already spoken to Chuckles and asked him what the hell is going on?
I certainly would. How many Sevco fans would have been looking to Ally for a bit of reassurance, all they got was, I’m not sure it’s my gig, to know who owns the club!
Green on tape telling Whyte – “you are Sevco”
Whyte making payments to consortium after he was no longer involved ….(whit?)
beeb saying most deidco fans will not believe a word that comes out Whyte’s mouth
Sally claims to know nothing- (what’s new?)
Whyte will go to court claiming he owns the assets; Ipox, Murray Park, the car park etc -no one knows when court action will take place
Challs defending his position
jeeeeeeezo!
By James Traynor |
LIKE a bad penny – or should that be 100, given what he forked out for Rangers – Craig Whyte turned up last night claiming he didn’t kill off the Ibrox club.
In a scattergun interview, the disgraced former owner desperately tried to pin the blame for Rangers’ downfall on everybody but himself.
Sadly, Whyte is so delusional that he probably really does believe the crisis was caused by the others whose names he tried to blacken.
As he said: “I was, if you like, driving the train when it crashed but I wasn’t the one who set it on this path.”
Of course not, and you were forced to stop handing over PAYE to the taxman.
“What was the alternative?” he asked. “What people are forgetting is that the club didn’t have any money to pay
Well, that’s all right then. That explains it perfectly and must surely absolve Whyte of blame.
Big boys – people like Duff & Phelps, who Whyte insists knew about the Ticketus deal, Sir David Murray and Scottish football’s authorities – did it. Only it was Whyte
Last night, one of the joint administrators, Paul Clark, said: “The allegations against the administrators, who are officers of the court, are false, malicious and without foundation. They shouldn’t be given any credibility, given the source.”
Clark continued: “It should be remembered that Mr Whyte’s takeover of Rangers is now the subject of an ongoing criminal investigation and we have provided evidence to that inquiry.
“In addition, we instigated legal proceedings against Mr Whyte’s solicitors in the High Court in London and those proceedings are centred round the very serious allegation that he was involved in a conspiracy which deprived Rangers of many millions of pounds.”
Whyte is correct when he insists the Employee Benefit Trusts scheme operated by Rangers over a 10-year period made it practically impossible to find a willing buyer, because of the potentially massive tax liability
That’s down to Murray and his financial advisers. But no matter how much Whyte, and others, want it to be true, the Big Tax case didn’t close Rangers.
Whyte’s non-payment of tax forced HMRC to act.
But, of course, they should have tried to agree repayment systems with him first.
And the shamed former owner, who broke cover in an extensive interview with BBC Scotland, revealed “prominent politicians”, including Scotland’s First Minister, became involved.
He said: “At one stage, Alex Salmond spoke to the head guy at HMRC but they weren’t prepared to come to any
But, according to Duff & Phelps, there was dialogue with HMRC about non-payment and possible repayment
Whyte, who was speaking out to set the record straight, refused point-blank to accept that he had lied at any point, or duped anyone, including former owner
He did, however, admit that he had been misleading when questioned about where he had found the £20million to buy the beleaguered Ibrox club.
However, despite having been asked on more than one occasion about a deal to hand over future season tickets to London firm Ticketus, Whyte would not accept
He said: “Maybe I should have been more open but I didn’t lie. I should have been more open about the funding. I perhaps misled people about that and that
Come on, Craig, not even a little white lie? No?
And what about the claim that it was he, and not Zeus Capital, who searched out Charles Green and introduced him to Duff & Phelps.
“Nonsense,” Green said last night. “Yet again Craig Whyte’s version of events paints a misleading picture of what actually happened.”
To be fair to Whyte, he did introduce Green to one of the administrators – but it was in a Chinese restaurant in London days after Zeus had brought in the Yorkshireman to mastermind the takeaway, sorry,
But Green said: “The facts are that direct contact was made by our consortium with Craig Whyte in the first instance as it appeared at that time that his shares would have to be secured in order for any purchase of
“I wasn’t present when contact was initially made but later met Craig Whyte, who introduced me to the
“I was brought in by Imran Ahmad after Duff & Phelps contacted Zeus in February.”
Green didn’t stay. He didn’t even sit down. He had work to do if something could be salvaged from the wreckage of that train Whyte was driving.
But, of course, Whyte always knew Rangers were heading for the buffers and so, he insists, did everyone
He said: “There was a 75 per cent chance it would go into administration. Everyone involved in the deal was
Whyte also repeated his belief that he is not the man to blame for the almost catastrophic events which plunged Rangers into liquidation – and pointed to the administrators, claiming they knew about the Ticketus
He also said it was only AFTER administration that Rangers went into meltdown, adding: “If the administrators had stuck to what they said they were going to do, then it wouldn’t have gone wrong. Either we’d have got a quick CVA (company voluntary arrangement) through or a quick restructuring.
“Staying in administration for five months was where it
He said given the dire straits Rangers were in, the Ticketus deal was “considered the best way to fund the club” and added: “Duff & Phelps knew, 100 per cent
“They attended meetings and were copied in on emails. They were there on the day of completion.”
In January, when the Record broke the news that future season tickets had been sold to Ticketus, Whyte denied
Even now, he still denies lying to fans about how his
He said: “I think I was asked a specific question, ‘Did you mortgage the season tickets’. I said no, because they weren’t mortgaged.”
Whyte admitted he should have been “more open about the funding” but added: “I didn’t lie but perhaps I
However, he defended the principle of using ticket money to buy the club, saying: “There’s no difference between a bank overdraft or a bank loan to fund the club and using a funding method like Ticketus.”
Whyte also insisted the SPL knew Rangers were in trouble and that he flagged up the problems at a
In fact, he and Rangers’ then director of operations Ali Russell met SPL chief executive Neil Doncaster and non-executive director Ralph Topping for dinner.
The SPL were alerted to the dangers facing the club but were unable to offer Whyte any idea of what might happen in the event of liquidation and some kind of
“It’s been a disaster,” Whyte said. “They’ve made Scottish football a laughing stock of the world.”
But surely you helped do that, Craig?
He also added: “What other country in the world would deal with one of their biggest clubs in the way they have and demote them to the Third Division.”
Wrong again, Craig. Rangers had to go there because they were a new club starting over.
How on earth did that happen?
IPox
More plots, breasts and ar@es than ‘Game Of Thrones’.
Sympathy for Fat Swally?
I’ve never fallen for the cheeky chappy malarkey since he faked a handshake with Darius Dowczyck while pulling his hair in the 1990 LC Final.
My character assesment was vindicated during the ‘whispergate’ shennanigans.
Again, whilst shaking the hand of an opponent, who was being sporting and magnanimous, he was mumbling threats and goading like the clipey coward he is.
Neil got hung out to dry while Swally got invited round to Campbell’s bit for tea and scones and a wee chat on the way out with pals from the press.
Remember too friends, that sneaky act of cowardice from the fat sniveller was the catalyst for the political breast beating which resulted in the shambles of a statute which is used on the one hand to bully the Green Brigade whilst being roundly criticized as a dog’s breakfast and set aside daily in our Criminal Courts.
Sympathy? Nah.
Karma? Perhaps.
Re McCoist…….
I’ve seen many a loathesome and despicable bear.
Not yet seen one who I despise more that “a’body’s pal”
A horrible, horrible person and a crap football manager to boot
From my fading memory, there seemed to be a point in time when Duff & Phelps suddenly stated that Craig Whyte was an irrelevance and that assets could be transferred without his involvement.
What happened there then? Did D&P suddenly decide to switch horses? Jeezo – this is really unbelievable.
Then there’s the HMRC appeal. This IS going to be an amazing movie!
Chris McLaughlin and I paraphrase, Whyte almost killed the Club but Greeen saved the Club.
Fool, the Club is dead…!!
Keep the Faith!
Hail Hail!
jmccormick
18:02 on
5 April, 2013
If you’re referring to your post at the top of the last page then I think yer safe mate!
Petec
Sorry but your post is genuinely way over my head mate, can you explain please.
An Dun
I dont get it either. They sold the Stadium and Murray Park for 5.5 m. Wayy below valuation, now its turning out Whyte who used Ticketus money to buy them in the 1st place, sold the assets to himself using Green as a front man. Green got a bit carried away with himself after the huns fell in love with him cos he gave them a free cup of tea, thought ‘hang on, I can just keep this place and say I had ‘backers’. He needed McMoist to fool the huns into buying season tickets so it would look good for the share issue. So McMoist was given a slice of the pie(an we all know he loves a slice of pie).
Agent Whyte though was aware something like this could happen, so recorded phone call and obtained signatures an is as slippery as a bag of eels. He knows Ogilvey is compromised so is gambling the SFA wont get involved.
We can just sit back and enjoy it. ;-)
According to Green he gave Whyte a pound for his shares and then stated he was happy with a 200% profit. A made up on the hoof arithmetically incorrect lie. The revenue streams that were sold by Whyte i.e catering etc. Were sold to Close Brothers …is Green involved with close brothers ?
HH
LennyBhoy, exactly, another fine mess they’ve gotten themselves into;-)
Green issues denial now on SSN.
McCoist is a coward, always has been and always will be, his part in this will become more clear as the truth emerges, an active bully boy calling for names to be named, every time I see his bloated boat race I am reminded of the smirking bad guys in Mississippi Burning…
thems to get a nano kicking to help them grow a backbone
HH
notthebus
17:16 on 5 April, 2013
Is it only me that thinks rangers have been punished enough…?
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
yes………and ‘rangers are deed’ ……..LOL