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The Indictment

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James DolemanGlasgow
The Indictment
The full indictment against Craig Whyte

HIGH COURT OF JUSTICIARY AT GLASGOW

Continued Preliminary Hearing: 3 October 2016

CRAIG THOMAS WHYTE, born 18 January 1971, whose domicile of citation has been specified as [redacted]

you are indicted at the instance of Her Majesty’s Advocate, and the charges against you are that

(001) between 1st May 2010 and 9 May 2011, both dates inclusive, at the premises occupied by The Rangers Football Club plc (“Club”), a company incorporated under the Companies Acts, with registration number SC004276, and having its registered office at Ibrox Stadium, 150 Edmiston Drive, Glasgow; Murray Park, Auchenhowie Road, Milngavie; Murray MHL Limited (“Murray”) a company incorporated under the Companies Acts with registration number SC143450 and having its registered office at 10 Charlotte Square, Edinburgh; Dundas and Wilson LLP, Saltire Court, 20 Castle Terrace, Edinburgh; Lloyds Banking Group, New Uberior House, 11 Earl Grey Street, Edinburgh; Dickson Minto WS, 16 Charlotte Square, Edinburgh;Shepherd and Wedderburn LLP, 1 Exchange Crescent, Conference Square, Edinburgh; The Bank of Scotland plc, The Mound, Edinburgh; Castle Grant, Granton on Spey, Moray, and elsewhere in Scotland; Merchant Turnaround plc (“Merchant”), a company incorporated under the Companies Acts, with registration number 07116894, and having its registered office at 7th Floor, Aldermary House, 10 – 15 Queen Street, London and premises at 34 Lime Street and 63 Queen Victoria Street both London; The Merchant House Group having its registered office at 7th Floor, Aldermary House, 10 – 15 Queen Street, London; Collyer Bristow LLP, 4 Bedford Row, London; the Worthington Group plc, incorporated and registered in England and Wales with registration number 527186 and having its registered office at 1 The Green, Richmond, Surrey; Ticketus LLP a limited liability partnership incorporated and registered in England and Wales with registration number OC341356 and having its registered office at 20 Old Bailey, London; Ticketus 2 LLP a limited liability partnership incorporated and registered in England and Wales with company registration number OC346235 and having its registered office at 20 Old Bailey, London; Octopus Investments Limited, a company incorporated under the Companies Act with registration number 03942880 having its registered office at 20 Old Bailey, London; C Hoare & Co, Private Bankers, 37 Fleet Street and 32 Lowndes Street, both London; Dickson Minto WS, Broadgate Tower, 20 Primrose Street, London; MCR Business Consulting (now Duff & Phelps), 43-45 Portman Square, London; the Dorchester Hotel, London; Clarke Wilmot LLP, 1 George’s Square, Bath Street, Bristol; and elsewhere in England, and at addresses meantime to the prosecutor unknown in France and Monaco, you CRAIG THOMAS WHYTE, with intent to acquire a majority and controlling stake in the shareholding of the Club from Murray through Wavetower Limited a company incorporated under the Companies Acts with registration number 07380537 and having its registered office at 4 Bedford Row, London this being a company incorporated for the purpose of and the means used to effect said acquisition and a company managed and controlled by you and also being a wholly owned subsidiary of Liberty Capital Limited a company incorporated in the British Virgin Islands with registration number 421410 having its registered office at c/o LWB Company Limited, PO Box 92, Road Town, Tortola, this being a company owned by you,

(i) did both directly and by the hands of your representatives namely Andrew Ellis, Philip Betts, William Lee, Gary Martin Withey and David Henry Grier, all c/o Police Service of Scotland, Gartcosh, pretend to the Officers of Murray namely Sir David Murray, Michael McGill and David Horne, all c/o Police Service of Scotland, Gartcosh and to the legal representatives of Murray namely Dundas and Wilson LLP that you, Wavetower Limited and Liberty Capital Limited individually or collectively had funds available to make all the payments stipulated by the representatives of Murray as being necessary to enable Wavetower Limited to acquire a controlling and majority stake in the shareholding of the Club from Murray and more particularly did pretend to said representatives in negotiations leading to and within a Share Purchase Agreement dated 6 May 2011 signed and concluded by you on behalf of Wavetower Limited and Liberty Capital Limited with Murray that Wavetower Limited had immediately available from its own and third party resources on an unconditional basis the cash resources necessary:- (a) to meet its obligations under said Agreement to contribute to the Club an amount equal to £5,000,000 for the playing squad, £1,700,000 for a Health and Safety liability and an amount equal to the small tax case liability of £2,800,000 said sums to be held and paid under the terms of the Purchaser’s Solicitor’s Undertaking of even date; (b) to pay the amount required to be paid under the Assignation Agreement dated 5 May 2011 between the Bank of Scotland PLC, Wavetower Limited, the Club and Subsidiaries of £18,000,962.29 and (c) to fund the reasonably foreseeable ongoing working capital requirements of the Club of £5,000,000,

(ii) the truth being as you well knew that said funds were not available and said cash resources were not immediately available on an unconditional basis at the time said Agreements were concluded in respect that the sums pretended by you to represent such immediately available and unconditionally held cash resources in fact comprised £3,925,000 from Merchant Turnaround plc and the Trustees of the Jerome Group plc Retirement Benefits Plan Fund which was not held on an unconditional basis and £24,357,094 from Ticketus LLP and Ticketus 2 LLP (“Ticketus”) which was held subject to an agreement or agreements being entered into between the Club and Ticketus after said acquisition in respect of the sale and purchase of season tickets for the three year period following said acquisition,

(iii) and you did thereby induce the said Officers of Murray to negotiate, enter into and conclude the said Share Purchase Agreement dated 6 May 2011 between Murray, Wavetower Limited and Liberty Capital Limited and to transfer 92,842,388 of ordinary shares being a majority and controlling stake in the shareholding in the Club, from Murray to Wavetower Limited and did thus obtain through Wavetower Limited 92,842,388 ordinary shares being a majority and controlling stake in the shareholding of the Club by fraud;

(002) you CRAIG THOMAS WHYTE, being an officer of a company, namely a director of The Rangers Football Club plc, a company incorporated under the Companies Acts, with company number SC004276 and having its registered office at Ibrox Stadium, 150 Edmiston Drive, Glasgow (hereinafter referred to as the “Club”), and knowing that a person, namely Wavetower Limited, a company incorporated under the Companies Acts, with company number 07380537 and having its registered office at 4 Bedford Row, London (hereinafter referred to as “Wavetower”) had acquired 92,842,388 ordinary shares in the Club from Murray and a liability had been incurred by Wavetower for the purpose of the said acquisition, namely that Wavetower had undertaken, in terms of the Assignation Agreement between Wavetower and the Bank of Scotland plc dated 5 May 2011 and the Share Purchase Agreement between Murray and Wavetower dated 6 May 2011, to pay at least £18,000,000 to the Bank of Scotland plc for an assignation of the debt owed to the Bank of Scotland plc by the Club, did on 9 May 2011 at Ibrox Stadium, 150 Edmiston Drive, Glasgow; Dundas and Wilson LLP, Saltire Court, 20 Castle Terrace, Edinburgh; Lloyds Banking Group, New Uberior House, 11 Earl Grey Street, Edinburgh; Dickson Minto WS, 16 Charlotte Square, Edinburgh; the Bank of Scotland plc, The Mound, Edinburgh; Collyer Bristow LLP, 4 Bedford Row, London, authorise or permit the Club unlawfully to give financial assistance directly or indirectly for the purpose of reducing or discharging the said liability of Wavetower to the Bank of Scotland plc, and at the time said financial assistance was given the Club in which the shares had been acquired was a public company, in that upon appointment as director you did cause the Club to enter into a loan agreement with Wavetower and, in implementation of the said loan agreement, to lend £18,000,000 to Wavetower, which in turn allowed Wavetower to meet its liability incurred to the Bank of Scotland plc for the purpose of the said acquisition: CONTRARY to Sections 678(3) and 680(1) and (2) of the Companies Act 2006;

#whyte, #rangers, #football

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