Glasgow & West Scotland

Rangers fined £50,000 over Craig Whyte's disqualification

Craig Whyte
Image caption Mr Whyte was disqualified as a director for seven years in 2000

Rangers have been fined £50,000 by the Plus stock exchange for failing to disclose owner Craig Whyte had been previously disqualified as a director.

The London-based exchange began an inquiry after a BBC Scotland investigation into Mr Whyte's history.

A programme broadcast in October revealed he had been banned from being a company director for seven years.

In January the exchange suspended trading of Rangers shares because accounts were filed late.

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."

Mr Whyte was disqualified from being a company director in 2000 for seven years.

Rangers did not announce this until 30 November, six weeks after the Insolvency Service had confirmed the fact in the BBC documentary.

The football club was forced into administration two weeks ago over an unpaid tax bill.