The Rangers owner was disqualified in 2000 for seven years, but it was only on November 30th, six weeks after the Insolvency Service had confirmed the news in Mark Daly’s BBC documentary on Whyte’s background.
Rangers have now been handed a fine and have been censured by the stock exchange following an investigation, after the club’s shares were suspended from trading last month due to the failure to publish audited accounts.
A statement from PLUS read: “The amount of the regulatory fine has been determined taking into account a range of factors including, but not limited to, the seriousness of the rule breach and the circumstances of Rangers FC.”
The stock exchange also intimated that Rangers tried to challenge their ruling on the 14th February, the day that the club went into administration, however the administrators Duff and Phelps withdrew the challenge last week.
The question now is what action will be taken against Craig Whyte personally for breaching his disqualification as a director?
Given that he knowingly breached the suspension order handed out to him by a court, what punishment will be handed out to Whyte, if any?
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