Thaindian News

Glasgow, Feb 17 (THAINDIAN NEWS) Investigators have been called in to help unravel how £24 million lent to the Scottish club Rangers disappeared. Auditors looking into the finances of the club have reported that the money has gone “invisible” in the accounts of the team.

Rangers recently applied to go into administration after the club admitted that it can no longer pay its bills. As part of the process to be accepted into administration, independent auditors are currently studying the finances of the club.

That task is being handled by the firm Duff and Phelps. An administrator from the firm David Whitehouse told reporters that they cannot trace the £24 million which was loaned to the club by ticketing firm Ticketus.

Whitehouse told reporters that, “I have today written to the Crown office asking for an investigation into the background surrounding the acquisition of Rangers Football Club by Craig Whyte, and in particular whether there is evidence of fraud.”

The Scottish police have confirmed the receipt of the complaint to investigate the missing money. A spokesperson for the Strathclyde Police declined to give further details saying that it will be inappropriate to do so at the early stage of the investigation.

Players and managers at the club has been informed that the staffing will be reviewed.