Ex-Rangers owner Craig Whyte dishes out tips to men on how to hide money from wives during divorce
IN SICKNESS & IN WEALTH Ex-Rangers owner Craig Whyte dishes out tips to men on how to hide money from wives during divorce
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FORMER Rangers owner Craig Whyte is now offering advice to men on how to hide their wealth from their wives during divorces.
The controversial businessman is dishing out tips on the best way to shield assets in offshore trusts through his own YouTube channel.
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Craig Whyte has been dishing out advice on YouTube
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Whyte spoke about hiding assets on his financial advice show
Credit: YOUTUBRE
Whyte took over Sir David Murray's majority shareholding in Rangers for £1 in 2011, while agreeing to take on millions in debt.
He used money projected to come from future season tickets to allow him to complete his purchase.
However, under Whyte's stewardship, the Rangers business went into administration and then liquidation in 2012 after it failed to pay more than £10 million to HMRC in National Insurance and PAYE contributions.
He was acquitted by a jury at the High Court in Glasgow in 2017 of taking control of the Ibrox club by fraud.
He launched YouTube channel Acequisition last year and a recent video focused on helping wealthy men whose wives want 50 per cent of their assets
Whyte, 54, conceded he might be being unfair to women by targeting his advice at men but claimed in most couples men have the majority of assets.
He said: 'You don't want lawsuits to start. You want people to look and not be able to find any assets and an ex-wife may be the source for most men.
'Maybe we are being unfair to women here because it can work both ways. But, let's face it, most of the time it's women that are coming after men for half their assets because the men have most of the assets.
'Imagine you're going through a divorce and the ex-wife goes to the lawyers to get 50 per cent of your assets and you're living in a £5 million house.
'When they do the searches and so on you don't own the house - there is nothing to come after.
Craig Whyte claims police investigating him after Rangers takeover were 'huge fans' who gave 'masonic handshakes' out for 'vengeance not justice'
'They could do a shareholder search on your businesses and find you don't own them so there's nothing to get there.
'What it means if someone thinks you're worth £10 million and come expecting to get 50 per cent of that you can go to the negotiating table and say 'I don't own any of this stuff, I'll give you £300,000'.'
Whyte, who was divorced by his wife Kim in 2019, advised men to look into placing any shares and property that they own into a trust so they control the assets but don't own them.
He said: 'If you own nothing nobody can come and try and take it away from you.
'Everyone in business has had these types of experiences. If you're going through a divorce it can be unfair on a lot of men in particular.
'Ownership and control of a vast amount of wealth are two different things.
'The way the super wealthy do it is they have their wealth in a trust, preferably an offshore trust. Once you put your assets in that trust they can't be touched anymore.
'If you're living in the UK you don't want your wealth in your own country under your own name because that's easier to attack.'
Whyte was cleared of fraudulently taking over Rangers after a 31-day trial in 2017.
Prosecutors claimed that he duped Murray by telling him he had cash 'immediately available' to buy an 85 per cent stake in the club in 2011 but a jury took just two hours to find him not guilty.
In 2014 the Insolvency Service banned Whyte from being a company director for the maximum of 15 years for his part in the financial troubles at Rangers.
In his recent memoir Murray said he 'deeply regretted' selling the club to Whyte and described it as a 'huge mistake'.
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