Ex-Rangers owner found not guilty of fraud

The former owner of one of the UK’s best-known football clubs has been acquitted of fraud.

Craig Whyte had been accused of the offence following his takeover of Rangers six years ago.

But this month, following a seven-week trial, he was found not guilty and also acquitted of a second charge relating to the Companies Act.

Whyte had taken over the majority shareholding at Ibrox in May 2011, having paid Sir David Murray £1. As part of the agreement he said he would take on obligations, including paying an £18million bank debt and an additional £5million to players.

He was subsequently accused of using the club’s own funds to settle these outstanding sums, while claiming it was his own money being spent.

During the trial, Mr Whyte’s legal team claimed he had been wrongly portrayed as “a pantomime villain.”

They insisted that the defendant had met the conditions of the sale by paying the debt and investing in the club and ultimately the suggestion of wrongdoing was rejected by jurors.

Outside court, Whyte said: “I’m just delighted with the outcome.”

The following two tabs change content below.
Mohit Pasricha

Mohit Pasricha

Solicitor at Mackrell Turner Garrett
Mohit is a member of Mackrell Turner Garrett’s Corporate and Commercial Department in London. He joined the firm as a trainee in 2014, having completed a Law LLB at the University of Surrey and a Legal Practice Course at the University of Law.