Rangers ‘did no checks on Whyte before club sale’

SIR David Murray’s team spent ‘nothing’ on checks on Craig Whyte prior to his Rangers takeover, a court heard yesterday.

The tycoon’s lawyer said ‘comfort’ was taken in Whyte having ‘reputable’ advisers.

The evidence was heard at Whyte’s trial at the High Court in Glasgow. The 46-year-old denies a charge of fraud and a second allegation under the Companies Act in connection with his takeover at Ibrox.

Solicitor David Horne, a key adviser to Sir David, was giving evidence for a second day.

Whyte struck a £1 deal to buy Sir David’s controlling stake at Ibrox in May 2011.

Prosecutors claim Whyte helped fund the takeover with a loan from the firm Ticketus.

Sir David has told the trial he would ‘categorically not’ have handed the club over if that was how a deal was financed.

Whyte’s QC, Donald findlay, yesterday suggested the Murray team wanted to sell ‘for the right reasons or not’ provided Rangers debt was cleared.

He then questioned Mr Horne on how much was spent on ‘due diligence’ on Whyte before the takeover. Mr Horne initially said ‘not very much at all’. The QC: ‘£20? More? Less?’ The witness: ‘I don’t know – possibly nothing.’

Mr findlay: ‘That was what was spent – nothing?’

Mr Horne agreed. The advocate suggested if checks had been done they would have known ‘his first piggy bank to his inside leg measurement’.

Mr Horne replied: ‘We took comfort that he had reputable advisers. If anything had been thrown up that suggested any impropriety, the deal would not have gone ahead.’

Mr findlay then claimed a ‘whole range of people’ knew about Ticketus involvement.

Mr Horne has said he learned of their role after the deal.

The QC said if the Murray team wanted to know ‘where the money came from’ they could have carried out the due diligence.

Prosecutor Alex Prentice, QC, later went on to ask Mr Horne: ‘On the face of it, was Murray keen to complete the deal?’ The witness: ‘Yes.’ Mr Prentice: ‘Would he have sold no matter what?’ Mr Horne replied: ‘No.’ The trial continues.

‘Reputable advisers’