RANGERS FC owner Craig Whyte last week I admitted that he had indeed been disqualified !is a director for seven years in 2000, and that he had not informed the PLUS market of this highly Pertinent fact despite being required to do so. PLUS is now investigating and could fine rvhyte and his two co-directors of Rangers FC Proup over the information provided to them and Rangers shareholders in a June circular. Rangersâ unaudited accounts to June 2010 show a £3.27m charge for the smaller of the tax schemes being challenged by HMRC, despite the fact that a case involving the same scheme is now under appeal, having been won initially by the taxman. The charge is greater than the previous provision. More worrying. âThe Companyâs auditors have not yet finalised their audit report,â shareholders are told. This does not sound like good news coming from Grant Thomton. The audited accounts must be filed by 31 December. Meanwhile, itâs worth turning to the matter of Re-Tex Plastic Technology, which was wound up by trade secretary in 2003. Re- Tex, in which a Whyte company was a major shareholder, collapsed in 2001 following the failure ofa fund-raising exercise partly underwritten by an offshore company linked to Whyte. It did not make up the £400,000 shortfall, according to the winding-up petition. One of the reasons given for the winding-up is âinvolvement of a disqualified director in the management of the companyâ. Investigators from the Insolvency Service were told by two Re-Tex executives and the companyâs lawyers that Whyte, while banned from being involved in company management and living in Monaco, had been running the company: âFinancial management of the company was under the direct control ofMr Whyte.â Re-Tex was duly wound up, but no action was taken against Whyte, who has denied the Re-Tex allegations NO DOUBT HE WILL SUE PRIVATE EYE, JUST LIKE HE SAID HE WOULD WITH THE BBC. I'VE HEARD IT SAID THIS GUY IS A FRAUDSTER, SHYSTER AND CONMAN. WAKE UP RANGERS FANS!
