Generic Sevco / Rangers meltdown thread

[CropleyWasGod]

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James Doleman ‏@jamesdoleman

According to the new indictment Craig Whyte is accused of fraudulently obtaining a total of £28,262,094 from Ticketus and Merchant Capital

It will be interesting to hear SDM in the witness box on that one

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[hibernia_inn]

James Doleman ‏@jamesdoleman

According to the indictment Charles Green is accused of fraudulently obtaining the sum of £5,500,000 to purchase the "assets of the club

[Ozyhibby]

Charles Green is also accused of raising £21 million "by fraud" during the Rangers IPO to the stock market.

Are Sevco liable for this? They are the beneficiaries of the IPO?


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[Hibee87]

James Doleman ‏@jamesdoleman 3m3 minutes ago
Green is also accused of "defrauding" investors of Rangers International Football Club and "Sevco 5088 ltd"

[CropleyWasGod]

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Charles Green is also accused of raising £21 million "by fraud" during the Rangers IPO to the stock market.

Are Sevco liable for this? They are the beneficiaries of the IPO?


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That would depend on the nature of the fraud, I reckon.

If it was, for example, based on an asset base that didn't exist, that would be a new can of worms that would probably bring down the company.

If there was fraud, the victims would have to bring a civil case to recover their losses. I would expect that to be against the perpetrators. ....ie those found guilty...but also the company.

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[Ozyhibby]

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That would depend on the nature of the fraud, I reckon.

If it was, for example, based on an asset base that didn't exist, that would be a new can of worms that would probably bring down the company.

If there was fraud, the victims would have to bring a civil case to recover their losses. I would expect that to be against the perpetrators. ....ie those found guilty...but also the company.

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Please,please,please.....


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[Ozyhibby]

http://www.philmacgiollabhain.ie/the...d-information/


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[Hibee87]

Who is Gordon Parks?

Gordon Parks ‏@Parksy327 29m29 minutes ago
Huge story breaking at Ibrox in next hour...more to follow

Edit: Meant to say my mate send me this

[Moulin Yarns]

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Who is Gordon Parks?

Gordon Parks ‏@Parksy327 29m29 minutes ago
Huge story breaking at Ibrox in next hour...more to follow

Edit: Meant to say my mate send me this

Daily Record



http://www.dailyrecord.co.uk/authors/gordon-parks/

[JimBHibees]

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Who is Gordon Parks?

Gordon Parks ‏@Parksy327 29m29 minutes ago
Huge story breaking at Ibrox in next hour...more to follow

Edit: Meant to say my mate send me this

Record Journo. Warburton probably bought a new Magic hat at xmas and is modelling it on the back page.

[Hibee87]

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Daily Record



http://www.dailyrecord.co.uk/authors/gordon-parks/

I see, so prob someone with a bit of knowledge. I thought it was just a random dude.

Coincidentally, Ozy posted a link suggesting the 5m due to SD was going to be rejected, that might be the 'huge' news

[Ozyhibby]

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Who is Gordon Parks?

Gordon Parks ‏@Parksy327 29m29 minutes ago
Huge story breaking at Ibrox in next hour...more to follow

Edit: Meant to say my mate send me this

Looks like he's at the wind up.


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[Col2]

I could do with a 'Carslberg' day given how terrible being back at work is.

Please please please...

[Hibee87]

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Looks like he's at the wind up.


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Aye, just seen that....Pwick

[Moulin Yarns]

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Looks like he's at the wind up.


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Gordon Parks ‏@Parksy327 13m13 minutes ago Sorry folks, that's the last time I leave laptop unguarded in office

[HoboHarry]

What is he doing?

Ok, I gotta it......

[Ozyhibby]

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Gordon Parks ‏@Parksy327 13m13 minutes ago Sorry folks, that's the last time I leave laptop unguarded in office

You can imagine the giggling in the Daily Record offices as they stick it right up Celtic fans.
Sad state of affairs for a newspaper.


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[Hibee87]

James Doleman ‏@jamesdoleman 2m2 minutes ago
Craig Whyte also accused of fraud against the SFA by not disclosing previous bar on being a company director during "fit and proper" test

Should that read, SFA don't conduct 'fit and proper' test correctly? Surly the SFA should also be checking this basic of things?

or is it a case of, hey mr new chairman, any reason why your not a fit and proper person?

Chairman: naw, im squeeky clean.

SFA: Passed.

[Bostonhibby]

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What is he doing?

Ok, I gotta it......

School boy humour? showing his conkers to the lad next to him? gotta be better than pretending to be a journalist / breaking an actual story?

[JimBHibees]

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Looks like he's at the wind up.


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Now saying he left his laptop unguarded. No doubt called into the Editors office and told not to run it.

[Ozyhibby]

Green is also accused of "defrauding" investors of Rangers International Football Club and "Sevco 5088 ltd"

Isn't the only other investor in 5088 Craig Whyte? Does this mean that Craig Whyte will have a claim on the assets? 5088 were the company who had the agreement with D&P to buy the assets.


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[JeMeSouviens]

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Green is also accused of "defrauding" investors of Rangers International Football Club and "Sevco 5088 ltd"

Isn't the only other investor in 5088 Craig Whyte? Does this mean that Craig Whyte will have a claim on the assets? 5088 were the company who had the agreement with D&P to buy the assets.


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... and Aidan Earley. Is he charged with anything?

[Ozyhibby]

http://www.celticquicknews.co.uk/pre...medium=twitter

Summary of this mornings proceedings.
Try ignore the duplicate paragraphs in it.


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[CropleyWasGod]

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Green is also accused of "defrauding" investors of Rangers International Football Club and "Sevco 5088 ltd"

Isn't the only other investor in 5088 Craig Whyte? Does this mean that Craig Whyte will have a claim on the assets? 5088 were the company who had the agreement with D&P to buy the assets.


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But there is the wider question about whether D&P had the right to sell to Sevco anyway, without offering the company or assets to the wider market. If that's also held to be fraud, CW is party to that; he couldn't have much of a claim.

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[Ozyhibby]

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But there is the wider question about whether D&P had the right to sell to Sevco anyway, without offering the company or assets to the wider market. If that's also held to be fraud, CW is party to that; he couldn't have much of a claim.

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In that scenario, would BDO not have a claim on the assets on behalf of the old club?
With so many claims outstanding it's hard not to see this having an affect on the new club.


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[s.a.m]

James Doleman ‏@jamesdoleman 3m3 minutes ago Another part of the indictment states Charles Green paid £200k for right to buy RFC, Craig Whyte then refunded him £137,500 via Ahmed's mum.

[Moulin Yarns]

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http://www.celticquicknews.co.uk/pre...medium=twitter

Summary of this mornings proceedings.
Try ignore the duplicate paragraphs in it.


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I sent that to a Celtc supporter at work and he came back with this....

Any thoughts on the second para?? CWG?


So much fun: “basket of assets”, “is now a football club” etc etc :)

Another conspiracy theory is that DK is planning on another asset transfer to a HK registered company and will liquidate the current entities which will remove Mike Ashley from the picture. This will also shaft most of the current shareholders as the “new” board can convert the current loans into equity as they see fit (but which they couldn’t do with the current set up because of MA and the Easdales) .

It’s amazing how a football club can be used to generate so much money for so many criminals over such a long period, although I guess it helps to have a gullible fan base who believe anything and are desperate to hold on to anything rangersish…..

[monktonharp]

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But there is the wider question about whether D&P had the right to sell to Sevco anyway, without offering the company or assets to the wider market. If that's also held to be fraud, CW is party to that; he couldn't have much of a claim.

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you know more than most on here about how this stuff works, but wouldn't it be "simply the best" if CW ended up with a lion's share of any of this shambles? too much to hope for, I know but would be nice

[jacomo]

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http://www.philmacgiollabhain.ie/the...d-information/


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What conditions? Presumably, a renegotiation of the original retail contract?

If SD won't accept repayment of the £5m, will King use it to keep the lights on this season?

[s.a.m]

http://news.stv.tv/west-central/1338...y-prosecutors/