Prosecution delivers closing speech to jury in Craig Whyte fraud trial

Craig Whyte bought Rangers “without a single penny of his own”, it was alleged today.

Jurors at Whyte's fraud trial also heard a claim the businessman was guilty of “dishonest representations” to then Ibrox owner Sir David Murray and his advisers.

Prosecutors further stated Whyte “used money that he was not entitled to”.

The accusations were today/yesterday made at the 46 year-old's trial at the High Court in Glasgow.

Whyte denies a charge of fraud and a second allegation under the Companies Act in connection with his May 2011 Ibrox takeover.

Advocate Depute Alex Prentice QC today/yesterday made a two-hour closing speech to jurors following six weeks of evidence.

The trial has heard how Whyte struck a £1 deal to purchase Sir David's controlling stake at Ibrox.

But, prosecutors claim Whyte pretended to the tycoon and others that funds were available to meet all stipulated payments.

These obligations included an £18m bank debt and £5m towards the playing squad.

It is claimed Whyte helped fund the takeover with an agreement with the firm Ticketus against three years season tickets.

It is further alleged £1m from investment firm Merchant Turnaround was also used towards the takeover.

Mr Prentice claimed despite the “apparent complexities” the prosecution case was “relatively simple”.

The QC said: ”The Crown says Mr Whyte through Wavetower (his company) bought Rangers Football Club without a single penny of his own and used money that he was not entitled to.”

Sir David earlier told the trial that he would “categorically not” have sold the club to Whyte had he known at the time of any Ticketus deal.

He described it as “selling the future” of Rangers.

Mr Prentice today/yesterday said: “False and dishonest representations induced Murray to do something that they would not have done.”

The advocate depute also added steps had been taken to “actively conceal” any Ticketus involvement.

The trial previously heard mention of the firm had been taken out of “cash flow projections” ahead of the May 2011 buyout.

Key Whyte associate Philip Betts accepted in his evidence that could have been “misleading”.

Mr Prentice went on to insist the trial was not a “public inquiry” into the “corporate governance” of Rangers.

Whyte's QC Donald Findlay is due to address jurors today/tomorrow. (FRI)

The trial, before Judge Lady Stacey, continues.