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The Herald Scotland
a day ago
- Business
- The Herald Scotland
Why the failed Rangers fraud case has cost the taxpayer over £60m
Criticism over the 'state of inertia' has come nine years after judges in England said part of the investigation was an "abuse of state power". There are concerns that no actions have been taken to formally investigate criminal complaints arising from the conduct of the police investigation the first of which were understood to have been lodged nine years ago. And preparations for a promised judge-led public inquiry into the affair are considered by some to be in a state of inertia despite pledges to establish one - over four years ago. What was the Rangers fraud case about? The case revolved around the 2012 financial collapse and subsequent sale of Rangers Football Club, one of Scotland's largest and most historic football teams. ____________________________ READ MORE Cover up' over nine-year failure to probe Rangers fraud arrests & state power abuse ___________________________ It came in the wake of the purchase of the club by businessman Craig Whyte from from Sir David Murray for £1 in May 2011 and against a backdrop of the controversial nature of his nine-months in charge. Craig Whyte It became controversial because Mr Whyte supported the funding of the purchase through selling the rights to future season ticket sales to the London-based agency Ticketus to raise £24m and pay off bank debt as part of his share purchase agreement. It was alleged that Mr Whyte misrepresented the source of the funds and failed to pay taxes leading to the club falling into administration in 2012. Within four months, the company's business and assets were sold to the Sevco consortium fronted by former Rangers chief executive Charles Green for £5.5 million. Scotland's Crown Office subsequently initiated a series of fraud and financial crime investigations, accusing seven former club executives and financial advisors of criminal misconduct during the sale and administration processes. However, these prosecutions turned out to be fundamentally flawed. Multiple individuals were arrested and charged, but the charges were either dropped, dismissed by the courts, while prosecutions against four of the seven were found to be malicious. All four successfully won claims for compensation for damages. So there was a cost to the taxpayer? Yes. Latest government calculations seen by the Herald shows it amounts to over £60m. Administrative spending, including staffing and legal costs paid out to contest concluded civil cases arising from the failed fraud case amounted to £9.429m up to Oct last year The compensation costs paid out in the civil cases has amounted to a further £51.7m. Imran Ahmad (left) with former Rangers chief executive Charles Green But it is understood that a settlement payment of £528,615 to Imran Ahmad, the former Rangers commercial director who it was admitted was maliciously prosecuted is not included in this calculation, along with any costs being claimed by him. Who was wrongly prosecuted? David Whitehouse and Paul Clark, joint administrators of Rangers working for Duff and Phelps was arrested and charged in 2014, and the charges were dropped in 2016. They were later awarded damages and costs for malicious prosecution at more than £21m. David Whitehouse (left) and Paul Clark Charles Green, former chief executive of Rangers was arrested and charged in 2015 and had charges dropped in 2018 and was awarded £6.3m damages for malicious prosecution. Also gaining more limited damages of over £600,000 was Imran Ahmad, the former Rangers commercial director who it was also accepted was maliciously prosecuted. Kroll, which was formerly called Duff & Phelps, which began court action against the Crown Office for reputational damage came to a settlement with the prosecution service and thought to have received a £15.5m payout. Craig Whyte, the former Rangers owned was acquitted of all charges in 2017 after a high-profile trial but as of now has not received any damages. It is understood a claim for £500,000 against the Lord Advocate was dropped. Gary Withey, a solicitor at the London law firm Collyer Bristow, played a significant role in Craig Whyte's purchase of the club. But he passed away in 2019, at the age of 55. Former Duff and Phelps consultant David Grier who was arrested in connection with the sale and administration of Rangers and had charges dropped, pursued a £9m damages claim but the Court of Session decided there he had failed to prove he was victim of malicious prosecution but accepted that it "lacked reasonable and probable cause". He took the case to the highest court in the UK, the Supreme Court but permission to appeal was refused. Why were the prosecutions considered malicious? Scotland's senior law officer, the Lord Advocate admitted that they acted without probable cause and with malice when pursuing four of the men. It meant the legal actions should never have been brought forward. Courts found that there were no reasonable grounds for arrest or prosecution. There were failures in disclosure and misuse of court procedures. Evidence was not properly presented or was missing altogether. In 2016, High Court judges in London ruled police and prosecutors "abused state power" in a raid during an investigation by seizing privileged documents. James Wolffe Scotland's then Lord Advocate, James Wolffe, eventually issued formal apologies to some of the wrongly accused and he stepped down from his post three months after agreeing with the Scottish Government, in February, 2021 that there would be a public inquiry. Why does this case matter so much? It is one of the most expensive legal failures and some would say scandals in recent history in Scotland, not just in terms of cost, but also public confidence in the legal system. Key concerns have included abuse of state powers, a lack of transparency of prosecution processes, the use of public money and the role of legal accountability in high-profile cases. What consequences have there been for those responsible? There has been significant political and public pressure on the Crown Office and Lord Advocate's Office over their handling of the case but so far no-one has been brought to task over the failings in the prosecutions. Public apologies have been issued to those wrongly and maliciously prosecuted. The home of Rangers - Ibrox (Image: Archives) Mr Wolffe during key parts of the scandal, faced questioning by MSPs but stood by the professionalism of the Crown Office overall. There have been calls for systemic reform of how Scotland handles complex fraud cases. What next? The Scottish Government and the Crown Office are now under pressure to act on long-standing criminal complaints and the promise of a four-year-old promise of a judge-led public inquiry.
Yahoo
3 days ago
- Business
- Yahoo
Three Rangers board members depart amid American takeover revolution
Rangers Football Club is now under American ownership following a completed takeover. The club's board has been reshaped, with Graeme Park, Julian Wolhardt, and former chairman Alastair Johnston stepping down. These roles will be filled by Americans Mark Taber, Andrew Clayton, and Gene Schneur. Andrew Cavenagh takes over from Fraser Thornton as chairman. Thornton, however, will continue to be part of the board. Paarag Marathe, head of 49ers Enterprises, steps in as vice chairman. Chief Executive Patrick Stewart, along with John Halsted and George Taylor, remain in their roles. These changes signify a new era for the club, with a blend of familiar and new faces guiding its future. Mark Taber, managing director at Great Hill Partners, a growth equity firm based in Boston, is one of the new board members. Taber, who specialises in healthcare investments, has been on the boards of over a dozen healthcare companies. Read more: Davide Ancelotti to Rangers '99 per cent done' as Italian snubs other offers Celtic-linked Youssef El Kachati teases big move this summer He is also a trustee of Boston Medical Centre's HealthNet health plan and a member of its finance committee. Andrew Clayton, the co-founder and vice-chairman of ParetoHealth, is another new addition to the board. ParetoHealth is a health insurance company founded by Andrew Cavenagh. Clayton, who holds a degree in economics from Swarthmore College, serves on numerous business and philanthropic boards and committees. Gene Schneur, a board member and co-owner of Leeds United, is the third new face. The Florida-based businessman is the managing director and co-founder of SBV RE Investments LLC, a real estate firm specialising in multi-family residential properties. Schneur was also a co-founder and leader of Omni New York LLC and Omni America LLC, which ranked among the United States' top developers of affordable housing. Under his leadership, Omni expanded to more than 800 employees and developed or acquired 94 properties, comprising over 19,000 affordable housing units, with total transaction values exceeding $4 billion. Before establishing Omni, Schneur worked as a mergers and acquisitions attorney at Olshan Grundman Frome Rosenzweig & Wolosky LLP in New York.
Rhyl Journal
19-05-2025
- Sport
- Rhyl Journal
Barry Ferguson leaves role as Rangers interim head coach
The Gers have confirmed the 47-year-old, who was asked to take over until the end of the season in February following Philippe Clement's exit, has departed along with Neil McCann, Billy Dodds and Allan McGregor following Saturday's 2-2 final-day draw at Hibernian. A statement on the club's official website said: 'Everyone at Rangers Football Club would like to pass on their heartfelt thanks to Barry Ferguson and his staff, with yesterday's game at Hibernian being their final match in charge. 💙 Everyone at Rangers Football Club would like to pass on their heartfelt thanks to Barry Ferguson and his staff, with yesterday's game at Hibernian being their final match in charge. 👉 Read More | — Rangers Football Club (@RangersFC) May 18, 2025 'Club legend Ferguson answered the call in the club's hour of need back in February and has overseen several memorable moments during his time in charge, not least progression to the quarter-finals of the UEFA Europa League and a terrific victory at Parkhead. 'A Hall of Fame member, Ferguson will now leave this role along with Neil McCann, Billy Dodds and Allan McGregor, with enormous gratitude and best wishes of everyone at Ibrox for their efforts in these last few months.' Ferguson took charge of 15 games in all, winning six and drawing five as the club he represented with such distinction as a player finished second behind champions Celtic, but 17 points adrift. He said: 'I've already lived the dream as a player and as captain of Rangers and to do so as head coach in these last three months has been an enormous honour for me. 'There have been some ups and downs, but I have loved this experience and given it my all throughout. 'I want to thank Neil, Billy and Allan, the three staff members who came in with me, and all the other staff who have supported me during my time in charge. Indeed from everyone at the training centre and at Ibrox, the backing I have received has been phenomenal. 'Above all, I want to thank our supporters. There is no doubt this has been a difficult season, but the backing the team and I have continued to receive in spite of that has been incredible. 'I have said, no matter how this period panned out, I would always remain a committed supporter of the club and I look forward to remaining a Rangers ambassador. 'I wish whomever becomes the new manager, every success in the job.' Chief executive Patrick Stewart thanked Ferguson and his staff for their work and revealed the hunt for a permanent replacement for Clement was 'progressing well'. Stewart said: 'Barry, Neil, Billy and Allan all had distinguished playing careers with Rangers and they have all enhanced their standing with the club for their work since February. The reception they received at Ibrox on Wednesday night was fully merited and I know meant so much to Barry and his team. 'The search for our new head coach is progressing well, and we look forward to concluding our process in the coming period.'
Powys County Times
18-05-2025
- Sport
- Powys County Times
Barry Ferguson leaves role as Rangers interim head coach
Interim head coach Barry Ferguson has left Rangers as the club step up their search for a new boss. The Gers have confirmed the 47-year-old, who was asked to take over until the end of the season in February following Philippe Clement's exit, has departed along with Neil McCann, Billy Dodds and Allan McGregor following Saturday's 2-2 final-day draw at Hibernian. A statement on the club's official website said: 'Everyone at Rangers Football Club would like to pass on their heartfelt thanks to Barry Ferguson and his staff, with yesterday's game at Hibernian being their final match in charge. 💙 Everyone at Rangers Football Club would like to pass on their heartfelt thanks to Barry Ferguson and his staff, with yesterday's game at Hibernian being their final match in charge. 👉 Read More | — Rangers Football Club (@RangersFC) May 18, 2025 'Club legend Ferguson answered the call in the club's hour of need back in February and has overseen several memorable moments during his time in charge, not least progression to the quarter-finals of the UEFA Europa League and a terrific victory at Parkhead. 'A Hall of Fame member, Ferguson will now leave this role along with Neil McCann, Billy Dodds and Allan McGregor, with enormous gratitude and best wishes of everyone at Ibrox for their efforts in these last few months.' Ferguson took charge of 15 games in all, winning six and drawing five as the club he represented with such distinction as a player finished second behind champions Celtic, but 17 points adrift. He said: 'I've already lived the dream as a player and as captain of Rangers and to do so as head coach in these last three months has been an enormous honour for me. 'There have been some ups and downs, but I have loved this experience and given it my all throughout. 'I want to thank Neil, Billy and Allan, the three staff members who came in with me, and all the other staff who have supported me during my time in charge. Indeed from everyone at the training centre and at Ibrox, the backing I have received has been phenomenal. 'Above all, I want to thank our supporters. There is no doubt this has been a difficult season, but the backing the team and I have continued to receive in spite of that has been incredible. 'I have said, no matter how this period panned out, I would always remain a committed supporter of the club and I look forward to remaining a Rangers ambassador. 'I wish whomever becomes the new manager, every success in the job.' Chief executive Patrick Stewart thanked Ferguson and his staff for their work and revealed the hunt for a permanent replacement for Clement was 'progressing well'. Stewart said: 'Barry, Neil, Billy and Allan all had distinguished playing careers with Rangers and they have all enhanced their standing with the club for their work since February. The reception they received at Ibrox on Wednesday night was fully merited and I know meant so much to Barry and his team. 'The search for our new head coach is progressing well, and we look forward to concluding our process in the coming period.'
Leader Live
18-05-2025
- Sport
- Leader Live
Barry Ferguson leaves role as Rangers interim head coach
The Gers have confirmed the 47-year-old, who was asked to take over until the end of the season in February following Philippe Clement's exit, has departed along with Neil McCann, Billy Dodds and Allan McGregor following Saturday's 2-2 final-day draw at Hibernian. A statement on the club's official website said: 'Everyone at Rangers Football Club would like to pass on their heartfelt thanks to Barry Ferguson and his staff, with yesterday's game at Hibernian being their final match in charge. 💙 Everyone at Rangers Football Club would like to pass on their heartfelt thanks to Barry Ferguson and his staff, with yesterday's game at Hibernian being their final match in charge. 👉 Read More | — Rangers Football Club (@RangersFC) May 18, 2025 'Club legend Ferguson answered the call in the club's hour of need back in February and has overseen several memorable moments during his time in charge, not least progression to the quarter-finals of the UEFA Europa League and a terrific victory at Parkhead. 'A Hall of Fame member, Ferguson will now leave this role along with Neil McCann, Billy Dodds and Allan McGregor, with enormous gratitude and best wishes of everyone at Ibrox for their efforts in these last few months.' Ferguson took charge of 15 games in all, winning six and drawing five as the club he represented with such distinction as a player finished second behind champions Celtic, but 17 points adrift. He said: 'I've already lived the dream as a player and as captain of Rangers and to do so as head coach in these last three months has been an enormous honour for me. 'There have been some ups and downs, but I have loved this experience and given it my all throughout. 'I want to thank Neil, Billy and Allan, the three staff members who came in with me, and all the other staff who have supported me during my time in charge. Indeed from everyone at the training centre and at Ibrox, the backing I have received has been phenomenal. 'Above all, I want to thank our supporters. There is no doubt this has been a difficult season, but the backing the team and I have continued to receive in spite of that has been incredible. 'I have said, no matter how this period panned out, I would always remain a committed supporter of the club and I look forward to remaining a Rangers ambassador. 'I wish whomever becomes the new manager, every success in the job.' Chief executive Patrick Stewart thanked Ferguson and his staff for their work and revealed the hunt for a permanent replacement for Clement was 'progressing well'. Stewart said: 'Barry, Neil, Billy and Allan all had distinguished playing careers with Rangers and they have all enhanced their standing with the club for their work since February. The reception they received at Ibrox on Wednesday night was fully merited and I know meant so much to Barry and his team. 'The search for our new head coach is progressing well, and we look forward to concluding our process in the coming period.'
