ian1964 10,500 Posted February 10, 2013 Share Posted February 10, 2013 FORMER Rangers supremo Craig Whyte faces going bankrupt and losing his Highland castle â?? for failing to cough up a £200,000 SFA fine. Hampden chiefs have now been chasing the defiant tycoon for the cash for almost TEN MONTHS. But last week they finally lost patience and lodged papers at court demanding the money. Whyte was hit with the fines last April for bringing the game into disrepute following his catastrophic nine-month reign at Ibrox. Lawyers delivered the writ last week to the businessmanâ??s £720,000 Castle Grant home near Grantown-on-Spey, Moray. Hampden insiders say the proceedings give him a final chance to pay up before a full court action â?? which could see the stately home seized â?? gets under way. But a source close to Whyte insisted he would not be handing over a penny â?? and instead he has told pals that he plans to sue the SFA for £40MILLION in loss of earnings and damage to his reputation. The insider revealed: â??Never mind the SFA bankrupting him, he would love to bankrupt the SFA. â??He believes they failed to follow due process and the evidence they used was flawed â?? and has since been proved to be wrong.â? Venture capitalist Whyte, 42, had a string of failed businesses behind him, but managed to buy Rangers for just £1 from Sir David Murray in May 2011 â?? when HMRCâ??s now-failed tax case was still looming over the club. But last February, oldco Rangers were plunged into administration then liquidation, having racked up massive debts during Whyteâ??s tenure â?? including around £14million of unpaid tax. It also emerged Whyte had failed to tell the SFA â?? led by chief exec Stewart Regan â?? he had been banned as a director for seven years from 2000. The SFA appointed a three-man judicial panel to probe the shambles, led by QC Gary Allan. It hit Rangers â?? now a new company run by businessman Charles Green â?? with sanctions including a transfer embargo. Whyte himself got a £50,000 fine for bringing the game into disrepute, and three separate £50,000 penalties for blanking the SFA tribunal process. But when the verdict was announced, Whyte said: â??Good luck collecting the money. Itâ??s a joke.â? During the tycoonâ??s time in charge at Ibrox, Rangers manager Ally McCoist had to stay quiet about his reign. However, he revealed recently: â??We always had a feeling that all was not well. Inside here we knew all was not kicking along nicely. We didnâ??t know precisely what the problems were, but we did know there was trouble brewing.â? And when Whyte claimed he would like to come back to Rangers one day after the club had gone into administration, McCoist said: â??At best it would be ill-advised for Craig Whyte to come back to Ibrox.â? Whyte launched his business career when he was just 15 years old and made more than £20,000 from buying and selling shares before he left school. He went on to work for his dadâ??s plant hire company before setting up one of his own â?? which failed with debts of £300,000. The Monaco-based tycoon then branched out into security, manufacturing and property and claimed to be Scotlandâ??s youngest self-made millionaire at 26. The stand-off over Whyteâ??s fine cash means the dispute is hurtling towards all-out war, with official papers now lodged by the SFA at Glasgow Sheriff Court. A legal source said: â??This one could run and run. â??The SFA think they are due the money because when Whyte took over Rangers, he agreed to abide by SFA membership rules and accept any fair punishments they impose. The SFA obviously threw the book at him. â??Of course, Whyte could argue that the £200,000 punishment was unreasonable and unjustified. He might also argue that the fine doesnâ??t lawfully apply to him. â??There is a suggestion that he could use a loophole by saying that he was the clubâ??s owner, and the SFA rules only applied to club â??officialsâ??. â??So thereâ??s a long way to go, and proceedings also get expensive for the SFA.â? Last night the SFA confirmed a writ had been served but said it could not give any further details on the action. A spokesman added: â??Since the matter is ongoing, the Association will be making no further comment.â? Read more: http://www.thesun.co.uk/sol/homepage/feeds/smartphone/scotland/4787554/Ex-Ibrox-chief-Craig-Whytes-castle-under-siege.html#ixzz2KSKyYyHi 0 Quote Link to post Share on other sites More sharing options...
Cotter 0 Posted February 10, 2013 Share Posted February 10, 2013 Keep wasting time and money you incompetent pricks. 0 Quote Link to post Share on other sites More sharing options...
The Real PapaBear 0 Posted February 10, 2013 Share Posted February 10, 2013 it's just a pity they can't both lose 0 Quote Link to post Share on other sites More sharing options...
foggy dewhurst 0 Posted February 10, 2013 Share Posted February 10, 2013 these buffoons ony have rules they dont make laws a waste of time and money 0 Quote Link to post Share on other sites More sharing options...
gisabeer 409 Posted February 10, 2013 Share Posted February 10, 2013 remember they fined craig levien and he never paid up up? 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,353 Posted February 10, 2013 Share Posted February 10, 2013 (edited) Interesting times ahead. I wonder if this SFA fine is legally enforceable ? If I recall correctly, this fine was for(amongst other things) non-payment of PAYE/NI which it is alleged the SFA were advised of in Oct2011 and did nothing until administration on 14FEB2012. Why did they wait over this period of time ? over to you Mr Traynor Edited February 10, 2013 by RANGERRAB 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,351 Posted February 10, 2013 Share Posted February 10, 2013 Rangers are now a new company? Thought we were a club? On a sidenote, do the SFA need this money to pay us the transfer fees they withhold? 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,353 Posted February 10, 2013 Share Posted February 10, 2013 Rangers are now a new company? Thought we were a club? On a sidenote, do the SFA need this money to pay us the transfer fees they withhold? Will transfer monies not be payable to oldco? if BDO come calling for this money & the SFA can't pay up what happens ? Something tells me both the SFA & SPL are short of cash at the moment 0 Quote Link to post Share on other sites More sharing options...
biggordy 0 Posted February 10, 2013 Share Posted February 10, 2013 I didn't think this type of fine could be enforced on someone who no longer has any involvement in football, after all it's not a debt. Can anyone confirm ? 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted February 10, 2013 Share Posted February 10, 2013 Hampden thiefs have now been chasing the defiant buffoon for the cash for almost TEN MONTHS. So the thieving Hampden buffoons are spending Scottish football's money chasing Swiss Tony, another thieving buffoon that never pays up. Christ almighty, it really is like a bloody Fast Show comedy sketch watching these muppets chase their tales and run around aimlessly like headless chickens. 0 Quote Link to post Share on other sites More sharing options...
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