Paul Clark released on bail in Rangers fraud case

Paul Clark has become the fourth man to appear in court on charges related to the purchase of Rangers FC in 2012. Picture: PA
Paul Clark has become the fourth man to appear in court on charges related to the purchase of Rangers FC in 2012. Picture: PA
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A FORMER Rangers administrator has appeared in court over the alleged fraudulent acquisition of club assets in 2012.

Paul Clark, 51, was charged with conspiracy and involvement in serious organised crime. He made no plea or declaration and was released on bail.

Former Rangers owner Craig Whyte, former chief executive Charles Green and David Whitehouse, a joint administrator with Mr Clark, faced similar charges.

They were also released on bail at Glasgow Sheriff Court on Wednesday.

The club was sold to Mr Whyte by former owner Sir David Murray in 2011 for a nominal sum of £1. But the club entered administration in February 2012 after running out of cash.

Mr Whitehouse, who worked at Duff & Phelps, was appointed joint administrator along with colleague Mr Clark.

When an agreement with creditors could not be struck to allow Rangers to exit administration, a sale of assets to a consortium led by Mr Green was concluded.

He was at the helm when the club was allowed to join the Third Division but stepped down in 2013 following allegations that he was working in conjunction with Mr Whyte, 44.

All four men were arrested earlier this week after a police investigation into the sale of ­assets in 2012.

They have been charged under Section 28 of the Criminal Justice Licensing Act 2010, which covers serious organised crime offences. They have also been charged with conspiracy.

In addition, Mr Green has been charged with fraud and also an offence under Section 190 of the Companies Act 2006.

Motherwell-born Mr Whyte and former Sheffield United chief executive Mr Green were met by chaotic scenes as a group of fans of the Ibrox club gathered to question and shout at the men as they left Glasgow Sheriff Court separately on Wednesday afternoon.

Mr Green had been questioned for several hours by officers at Livingston police station on Tuesday night after being ­arrested.

Later on Tuesday, Mr Whyte was driven to Helen Street police station in Glasgow where he was also questioned by police, detained and arrested.

The Glasgow club has faced years of upheaval and turmoil after Mr Whyte purchased it from Sir David.

A year later – on Valentine’s Day, 2012 – the club was placed into administration following the non-payment of a £9 million tax bill.

Following this, administrator Mr Whitehouse helped run the club – but after a fruitless search for a potential buyer, it was placed into liquidation.

Mr Green, then led a consortium which, by way of a £5.5m deal with Mr Whyte and Duff & Phelps, purchased the business and assets. While in charge, Mr Green sold the naming rights to Ibrox stadium to Sports Direct tycoon Mike Ashley for £1.

In December 2012 Mr Green launched a share issue which raised an estimated £22m. He left the club in August 2013 and sold his shareholding to the Scottish businessman, Sandy Easdale.