Friday 28 December 2012

Who's really behind the Sevco Investors.

So Charles Green told everyone that he would make public who the investors in NewCo Rangers where, has he?

Basically he has brought together a bunch of Stockbrokers and Fund Management companies who will invest and receive some Tax relief. Or is that the only reason?

I would like to bring to your attention a piece that i read earlier on this year.

 http://www.moneymarketing.co.uk/investments/awd-and-sjp-caught-up-in-octopus-eis/rangers-saga/1046625.article

This piece describes how another 2 Investment companies also got burnt when the £27m vanished.

So the first company we will have a look at is AWD Chase de Vere

They are Independent Financial Advisers.

In the Money-marketing piece above an AWD spokesman says "the firm sold the EIS as a higher-risk offering, through different tranches of the same EIS, to a small number of clients." (Regarding investing in Ticketus)

So who were the clients?

If we look at the business relationships with AWD Chase De Vere there is clear evidence that they are working with some of Charles Greens Institutional Investors.

Below are links between AWD Chase De Vere who lost money in the Ticketus deal & Cazenove who recently invested in Charles Greens NewCo.

Link 1

Link 2

Link 3

Link 4


Below are links between AWD Chase De Vere who lost money in the Ticketus deal & Legal & General who recently invested in Charles Greens NewCo.

Link 5

Link 6

Obvious working relationships in progress. I'll let you come to your own conclusions!





The second company that lost out when £27 big ones went 'a' missing are St James Place.

St James Place or SJP are described as a Wealth Management company.

In the Money-marketing piece above a St James’s Place spokesman says "the company sold the product to fewer than 50 clients, including partners, and has an exposure of less than £1m". SJP says it is continuing to monitor the situation closely. (Regarding investing in Ticketus)

Lets have a look at some of the business dealing SJP has had with recent investors in Charles Green NewCo.


Below are links between St James Place who lost out on the Ticketus deal and Artemis Investment Management LLP who are SJP investment advisers who recently invested in Charles Greens NewCo.

Link 7


The links below tells us who St James Place's partners are. Please note that their partners include recent investors, Insight Investment Management, Legal & General. Capita who overseen the share issue and Octopus Investments who own Ticketus.

Link 8


They are mentioned on SJP website also.

Link 9


So it certainly looks like the Institutional Investors are fronts for the three companies that lost out in the Ticketus deal but I'll leave it up to you to make up your own mind.


The losers in the Ticketus deal were Octopus Investments, AWD Chase De Vere and St James Place.

Each one of those companies is directly connected to 1,2,3 or even 4 of the companies involved in the investing and running of Charles Greens NewCo whether that be Zeus involvement with Octopus, Cazenoves involvement with AWD or Artemis involvement SJP.

These Billion pound companies don't become Billion pound companies by being nice or lenient when it comes to business. I suspect they know exactly what they are doing, they've probably had to do these things before. Once they have recouped their money they'll ditch the assets that they have left to the first bidder and you will not see them for dust.

Will Charles Green ever disclose who are behind the Institutional Investors?

Probably not.

Why?

Compliant media who won't ask the questions or question his answers.

Where there is money, there is corruption.

MC







Friday 7 December 2012

Ticketus increase shareholding in Newco Rangers

Rangers International Football Club PLC.

The scam the 'people' never seen.

Charles Green
5,000,200
8.67%
Hargreave Hale Limited
4,949,000
8.58%
Artemis Investment Management LLP
4,286,000
7.43%
Blue Pitch Holding
4,000,000
6.94%
Mike Ashley
3,000,000
5.20%
Margarita Funds Holding Trust
2,600,000
4.51%
Cazenove Capital Management Limited
2,450,000
4.25%
Richard Hughes
2,200,000
3.82%
Imran Ahmad
2,200,000
3.82%
Legal & General Investment Management Limited
2,000,000
3.47%
Insight Investment Management (Global) Limited
1,900,000
3.30%
Craig Mather
1,800,000
3.12%
  
Above is a list of new shareholder in the Newco Rangers. 

I have already blogged about the Ahmed / Stockbridge / Zeus / Allenby connection with Octopus Investments the owners of Ticketus who were left £28m out of pocket when Craig Whyte put Oldco Rangers into administration and soon to be liquidation.

I then blogged about how Metro bank were funded by Octopus and that Newco Rangers were banking with Metro.

I then blogged about how Cenkos Securities, Capita Finance, Field Fisher Waterhouse (FFW) who all worked on behalf of Octopus were now the driving force behind the Newco Rangers share issue.

So do any of the new shareholder have connections with Octopus who own Ticketus? 

Lets take a look. The links below show the connection to Octopus.


Hargreaves Hale.

Will become the second largest shareholder in Newco Rangers 4,949,000 (8.67%)

Hargreaves Hale have had a long standing working relationship with Octopus shown below.  



Artemis Investment Management LLP

Artemis will become the 3rd largest shareholder in Newco Rangers with 4,286,000 (7.43%)

Artemis are joint shareholders and have a working relationship with Octopus shown below.




Cazenove Capital Management Limited

Cazenove will hold 2,450,000 shares. (4.25%)

Octopus are investors in Cazenove with a 25% fund holding in the company. Cazenove are included in Octopus 'asset documents'.




Legal & General Investment Maganagement Limited

Legal & General will have 2,000,000 shares. (3.47%)

Legal & General have a working relationship with Octopus.




So far:

Newco Rangers>Brian Stockbrigde>Zeus>Octopus

Newco Rangers>Imran Ahmed>Allenby>Zeus>Octopus

Newco Rangers>Richard Hughes>Zeus>Octopus

Newco Rangers>Metro Bank>Octopus

Newco Rangers>Cenkos>Octopus

Newco Rangers>Capita>Octopus

Newco Rangers>FFW>Octopus

Newco Rangers>Hargreaves Hale>Octopus

Newco Rangers>Artemis Investment Management LLP>Octopus

Newco Rangers>Cazenove Investment Management Limited>Octopus

Newco Rangers>Legal & General Investment Management Limited>Octopus


The total shareholding of the people and companies connected to Octopus is 18,085,000 which equates to 31.37%.

Once Newco Rangers admission to the AIM market is completed, Octopus Investments Limited who own Ticketus will become the 'Major Shareholder' in Newco Rangers with 31.37%





Tuesday 6 November 2012

Craig Whyte moves "upstairs" at Ibrox.

So is Craig Whyte back on the scene or had he never left?

Craig came onto the scene when he purchased David Murrays 85% shareholding in Rangers.

When he gained control of David Murrays shares his company summery looked like this.


TEAM DISCOUNTS PLC
THE RANGERS FC GROUP LIMITED
CAIRNWELL INVESTMENTS LIMITED
MERCHANT STRATEGIC RENEWAL PLC

MERCHANT TURNAROUND PLC

RFC 2012 P.L.C.

ZEMFILL PLC

LM LOGISTICS GROUP LTD

COUNTRYLINER GROUP LTD

MERCHANT HOUSE FINANCIAL SERVICES LIMITED

MERCHANT CORPORATE RECOVERY PLC

MERCHANT INTERACTIVE LTD


If we look at all the companies with word "Merchant" in them it would be safe to assume they are all connected. This can be seen in the company accounts for 2010.





Accounts for 2010

Here is a screen shot.









This screen shot of the accounts to 2010 shows that "Merchant House Group Plc" is connected to ""Merchant House Finance Limited" and connected to "Merchant Corporate Recovery PLC" "(MCR)", both owned by Craig Whyte and business partners, Mr James Dominic Rupert Holmes and Mr Martin Eberhardt.



In the accounts to 2010 it states that since 2006, "Merchant House Group Plc" have had a 49% shareholding in "Merchant House Finance Limited". A company that Craig Whyte was a director of.


In the accounts to 2010 it states that since January 5th 2010, "Merchant House Group Plc" have had a 29.9% shareholding in "Merchant Turnaround Plc". A company that Craig Whyte was a director of.

In the accounts to 2010 it states that since January 30th 2009, "Merchant House Group Plc" have had a 29% shareholding in "Merchant Corporate Recovery Plc". A company that Craig Whyte is still a director of.

The accounts also mention that "Merchant Turnaround Plc" and "Merchant Corporate Recovery Plc" are associated companies of "Merchant House Group Plc".



When Craig Whyte bought out David Murray in May 2011. The shares were owned by "Wavetower Limited" which was subsequently renamed "The Rangers FC Group Limited" which was wholly owned by "Liberty Capital".

Liberty Capital are mentioned in Merchant House Groups accounts to end 2011 as being significant shareholders in "Merchant House Group Plc" with a holding of 10.6% and no less than 499,255,464 shares.



Here is a screen shot.



The shareholding breakdown can be seen on their website in the link below.

www.merchanthousegroup.com







Now lets turn our attention to Mr Imran Ahmed.

Imran founded and was Chief Executive of "Allenby Capital Limited". 



On the company records it states that Imran actually retired from Allenby. It also shows that Imran is still has the largest shareholding in Allenby with 36.89% of the shares.

 
Share dividend of Allenby at bottom of page.





On Allenbys accounts to April 2010 Imran Ahmed and a Mr NJ Naylor signed the accounts as directors.

Mr N J Naylor is still a now the Chief Executive of "Allenby Capital Limited".




Now we must look at a chain of events.

  • Sept 2011. Imran Ahmed leaves/retires from Allenby the company he founded.
  • Feb 2012. Imran contacts Charles about the possibility of buying Rangers
  • Feb 14th 2012 Craig Whyte puts Rangers into Administration.
  • May 13th 2012 From nowhere Charles Green has signed a deal and became preferred bidder.
  • June 6 2012. Charles Green appointed to assist day-to-day management.
  • July 31st 2012. Allenby Capital Limited plc appointed Nominated Advisors and Brokers for Merchant House Group.



The company Allenby Capital Limited that Imran Ahmed founded and is a major shareholder in are now Nominated Advisors and Brokers for Merchant House Group Plc. A company that owns 49% of "Merchant House Finance Limited" which Craig Whyte was a director of, 29.9% of "Merchant Turnaround Plc" which Craig Whyte was a director of and 29% of "Merchant Corporate Recovery Plc" which Craig Whyte is still a director of.

Below is the link to the announcement and a link to the Merchant house Group to clarify that Allenby are now working for MHG.

Merchant House Group Plc announce Allenby as NomAds and Brokers.





The plot thickens.



New Co Rangers fans have not asked the right questions and neither have they questioned the answers they have been given. They have took all the propaganda rubbish and tried to used it as 'oneupmanship' against the green half on the other side of the city.

David Murray said "for every fiver Celtic spend, we'll spent a tenner". He never spent a tenner! He spent the taxmans tenner. He was lying, the Rangers fans believed him.

David Murray told the Rangers fans he was going to build a super Casino. He was lying. The Rangers fans believed him.

The Rangers fans believed Craig Whyte was a Billionaire with wealth of the radar. He wasn't.

Craig Whyte to give Ally £5m a year for players. The Rangers fans believed him. He was lying.

Charles Green has 20 investors who have invested millions in Rangers. The Rangers fans are believing!

Charles Green has bought the Edminston House from David Murray, I'm told David Murray doesn't own the Edminston House to sell it. The Rangers fans are believing.

Charles Green "Ticketus and Craig Whyte are not involved". The Rangers fans believe him.

Can anyone see a pattern emerging?



Remember what Charles Green said when he first came in? "Cheques, Cash! I'll take anything. Then I'll give the money to Imran who'll put it in a bank account". Who's account?

Charles Green said "God gave me big hands so I can hold more money". And cover the eyes of the gullible.

And whilst Charles 'jack in the box' Green has been spouting ludicrous statements about £1.2 billion of TV revenue, 500 million fans and winning the Champions League, Whyte, Ahmed Stockbridge and Ticketus have been the puppet masters behind Mr Green. 

Friday 2 November 2012

Octopus on Zeus accounts

So a major share holder in Now Co Rangers has been using Tax Avoidance schemes! Nothing new there.

The man in question is Richard Hughes of Zeus Capital. He has been a director or Secretary of 97 companies.

So is Richard Hughes another cover for Octopus Investments who own Ticketus?



Zeus Capital Report and Accounts


Part 16. Related Party Transactions.

It states Zeus are related to;


  • Medusa Partners LLP ("Medusa")
  • Vindon Healthcare PLC ("Vindon")



First we will look at Medusa.


Medusa is a partnership controlled by Richard Hughes.

Here is evidence that show Octopus are related to Medusa. 


This evidence clearly shows that Octopus have a shareholding in Medusa though a company called Datong PLC.




Now lets look at Vindon.


Richard Hughes is a Director of Vindon

Here is evidence that show Octopus are related to Vindon.


This evidence clearly shows that Octopus took the hit for Vindon falling back. (in finances)

Vindon also uses an EBT scheme.


Both of these companies are named in Zeus Capitals Report and Accounts for 2011! 


Now we know Charles Green resigned from Nova Resources before he took control at Ibrox. Nova were a mining company and so are Medusa, Medusa Mining. Would Charles have met Richard through that? Yes. 

Charles Green and Richard Hughes has been sitting in meeting with each other since 1999.




What does this tell us.

Firstly it confirms and strengthens the connection between Zeus and Octopus.

Secondly, why would only these companies be on Zeus accounts when Hughes has been director or secretary of 95 other. Is it because Zeus are Nominated Advisors and Brokers for Octopus or is it because Octopus actually own Zeus.


I await my IPO prospectus with baited breath.

Thursday 18 October 2012

Ticketus must own New Co Rangers

I would like to explain why Ticketus own everything Rangers. I know it's Sevco or whatever but for the benefit the blog just stick with me. 

To help explain this here is a copy of the CVA proposal.
https://mail-attachment.googleusercontent.com/attachment/u/0/?ui=2&ik=92e6d5bcda&view=att&th=13a5fbab3bd34fe2&attid=0.1.1&disp=inline&safe=1&zw&saduie=AG9B_P_DCm0FodCM68kMjydBS4_0&sadet=1350561326923&sads=pEKLIyEYU7iPihk8RkBz5_6jRvA&sadssc=1



We must look at the conditions that relate to the execution of an agreement Section 4, it relates to the "agreement" for a "LOAN" (not investment) of £ 8.5 million to the Rangers Football Club plc (oldco) to be repaid by 31st December 2020.



1. Clause 4.21 From 6 June 2012, Charles Green will be appointed to assist in the day-to-day management of the business of the Company (at no cost to the Company or the Joint Administrators), in order to manage the ongoing trading costs of the Company and allow for a smooth transition in ownership.


The CVA was for £ 8.5 million, the acquisition cost of the "assets" (item 4.11) was £ 5.5 million. Charles Green and Imran Ahmed borrowed £ 8.5 million from Zeus Capital. The "confidential agreement" outlined in item 4.20 states that £ 8.3 million (less D&P exclusivity fee of £200,000) is a loan and will be available once certain conditions are satisfied. These funds would be distributed to the creditors, less the joint administrators fees outlined in item 11. In effect the CVA was for £8.5 million, minus D&P £3m, in compliance with item 11. The rejection of the CVA was still the same amount involved, although it was a sale of the assets (£5.5 million) with Charles Green and Imran Ahmed paying the fees of £3million, equating to £ 8.5 million. Basically Sevco 5088 Ltd paid for the liquidation of Rangers, which is what they required to get the assets out to an English Company. Remember ENGLISH COMPANY! 


Should the CVA be rejected, an "acquisition of the assets" agreement would be executed on 12th May 2012, with Sevco 5088 Ltd. 

If the CVA was accepted D&P would have became creditors and wouldn't have been paid so it was in everyone's interest to Liquidate Rangers.


Now we'll take a look at the New Co.


Sevco 5088 Ltd is an English Company, formed by Field Fisher Waterhouse.
35 Vine Street, London, EC3N 2AA, incorporated on 29.03.2012. 

Field Fisher Waterhouse are the Solicitors of Octopus, owners of Ticketus. Coincident?

Now all the assets outlined in the CVA were acquired on the 12th May 2012 by Sevco 5088 Ltd based in England. The reason for the acquisition of the contract being by an English Company was to transfer the legal jurisdiction out of Scotland. Lord Hodge ruled the Ticketus contract could be dissolved under Scots Law, but not under English Law. 

By acquiring the contract by an English company, under English Law this allows Ticketus to pursue Craig Whyte.

SFA rules state that the "company" must be registered in Scotland to play in the Scottish League so they formed Sevco Scotland Ltd registered in Scotland which allowed them to play football in Scotland.

Charles Green and Imran Ahmed could have transferred the assets from Sevco 5088 Ltd to Sevco Scotland Ltd, but the lender wanted jurisdiction to stay in England. 

 Sevco 5088 Ltd borrowed the £8.5 million to complete the acquisition. This loan was a 12 month interest only loan. However they could not afford the interest payments so equity was transferred over to Zeus. They knew this was in breach FSA rules and put pressure on Green and Ahmed to find an alternative arrangement. As of the mid September the loan had not been repaid. On a trip to America and Canada by Charles Green and Imran Ahmed found some funding by selling a further 20% of equity for £8.5 million.


Now if we take a look at Financial Director Brian Stickbridge.

He worked for Allenby Capital (founded by Imran Ahmed) until January 2012 when he joined Zeus Capital with Imran Ahmed following in April 2012. He then re located to Glasgow in Febuary 2012. This is 100% a strategic move on behalf of Ticketus. People are looking at what Charles Green is up to but Brian Stockbridge is the man we should be looking at. Charles is merely a distraction.


The Share Issue



Charles Green was reported to the FTSE rules in 1998. Sheffield United's Board of Directors reported him for similar misselling of their floatation. Charles Green alone has set back Sheffield United 12 years and almost bankrupted them at the time. 

Would you buy shares with this guy?




Monday 15 October 2012

The life of Brian

I thought I'd do a quick blog to support this brilliant piece I read on this http://boards.footymad.net/forum.php?tno=4&fid=27&sty=2&act=17&mid=2114206616

So lets look at this guy Brian Stockbridge.

Just remember Octopus own Ticketus and Allenby and Zeus work for Octopus.


15 June 2011

His company Allenby Capital were Brokers and Financial advisors for this deal in which Octopus Investments who own Ticketus were shareholder in. http://tools.morningstar.co.uk/uk/stockprofile/default.aspx?LanguageId=en-GB&SecurityToken=0P00007YZ9%5D3%5D0%5DE0WWE$$ALL&Id=0P00007YZ9&ClientFund=0&BaseCurrencyId=GBP&InvestmentType=E0

It's on Allenby Capitals website. http://www.allenbycapital.com/recent.html


January 2012

Brian Stockbridge Joins Zeus Capital. http://www.zeuscapital.co.uk/team/team_bs.php


14th Febuary 2012

Rangers go into Administration.


20th Febuary 2012

Brian Stockbridge moves to Glasgow. https://www.duedil.com/company/SC417413/stockbridge-capital-investment-limited

15 June 2012

Brian Stockbridge is appointed Financial Director of new company Sevco 5088.


I think we all know what direction the finances are going, Ticketus.




Tuesday 21 August 2012

Rangers paying Bribes!

Why would Rangers pay players of other clubs?

Following last weeks blog about Rangers paying Loan players Gregory Vignal and Federico Nieto I thought it only right to do a follow up this week.

The reason for this is I was contacted by someone who has vast experience and knowledge in the field of employing 3rd party staff which in effect Loan players are and he explained that Rangers paying Loan players they could be seen as Bribery.




We will use Gregory Vignal as an example as he was employed in the UK at the time.


Now lets look at why he would have received a payment from Rangers.

Potential Scenarios for the Payment
  1. Signing-on Fee
  2. Performance Bonuses
  3. Bribery to agree to move
  4. AWR style Employee Benefit (Benefit Being the EBT Loan)



1. Signing-on Fee: Such signing on fee's are often used in business transactions however, they should be declared as a term of the agreement and referenced in the contract between LFC and RFC. This would normally be a one-off payment to LFC who would invoice RFC for such a payment then pass this onto their employee. If this was to be paid from RFC directly to the employee, this would be a side contract with Vignal. Rangers have paid the employee directly but, have denied any EBT as contractual payments to staff so this is unlikely to be the reason.                   

                  
2. Performance Bonus: Identical to the above. Performance bonus can take place in very rare occasion's, I have seen them for before added for expedition of work against severe deadlines though detailed as contractual terms with the company offering the service. In this case Liverpool may have decided that the match participation bonus (goal bonus, etc..) was not going to be paid by them but by Rangers instead under the terms of the contract this may well have been correct. As the contract is held by Liverpool they should have invoiced Rangers for such a payment. If this was to be paid from RFC directly to the employee, this would be a side contract with Vignal. Rangers have paid the employee directly but, have denied any EBT as contractual payments to staff so this is unlikely to be the reason


3. Bribery to Agree to Move Rangers make a loan offer to Liverpool and Liverpool have said ok but, "let's see if Vignal agrees to the move". Vignal tells Rangers that he is opposed to the move and either Vignal or Rangers make the £173K offer to agree the deal without, Liverpool involved in this transaction (therefore not a signing bonus). As Vignal is the KEY decision maker of the award in this scenario, this would be seen as case worthy of merit for the improper transaction review, if true.


Reviewing the Bribery Scenario against the UK law.
http://www.justice.gov.uk/downloads/legislation/bribery-act-2010-guidance.pdf

General bribery offences.

1 Offences of bribing another person
(1) A person (“P”) is guilty of an offence if either of the following cases applies.
(2) Case 1 is where—
  • (a) P offers, promises or gives a financial or other advantage to another
person, and
  • (b) P intends the advantage—
  • (i) to induce a person to perform improperly a relevant function or

activity, or
  • (ii) to reward a person for the improper performance of such a
function or activity.

(3) Case 2 is where—
(a) P offers, promises or gives a financial or other advantage to another
person, and
(b) P knows or believes that the acceptance of the advantage would itself
constitute the improper performance of a relevant function or activity.
  • (4) In case 1 it does not matter whether the person to whom the advantage is
offered, promised or given is the same person as the person who is to perform,
or has performed, the function or activity concerned.


  • 2 (a): Promise of Financial advantage - See payment of £173K to Vignal directly and non-contractually
  • 2 (b): Advantage in (a) to induce improper performance - Agreement to loan move as a result of 2 (a)
  • 4: Bribery case even if the it is the person who will perform the service. - Gregory Vignal as Key decision maker and person carrying out the service.


4. AWR (Agency Workers Regulations) style Employee Benefit (Benefit Being the EBT Loan): AWR is a government legislation which was put into effect in January 2012 to safeguard a sub-contracted / temp employee's rights. One of those rights includes the right to the same conditions as any direct employee of the company after completing 12 weeks of work on site. This rule was not in place in 2004 and 2005 when Vignal was at Rangers. If it was, Vignal could have been eligible for all benefits available to Rangers employee's and I believe this would include EBTs (only after the completion of 12 weeks of service) even though he was a Liverpool employee. I have also seen companies pass over their benefits to sub-contracted employee's as a term of the contract between two companies. EBT laws may supersede this style of agreement but I am unsure.  Rangers have offered an EBT, as Vignal was eligible to receive employee benefits from Rangers.


Below explains why it is highly unlikely that Liverpool would have allowed Gregory Vignal to accept payment from any other club, ruling out the ability of Rangers giving the same benefits that RFC employees had to any Loan player.





NIM16356 - Class 1A National Insurance contributions: Special Class 1A NICs cases: Third party benefits: Provision of benefits not arranged or facilitated by the employer: Payments or benefits provided except non- cash vouchers

Section 10ZA SSCBA 1992

Where the employer has neither arranged nor facilitated an award made by a third party, the class of NICs due depends on the type of award made. See NIM16353 for guidance about the meaning of “arranged” or “facilitated”. 

Where the award involves the provision of an item on which Class 1A NICs are due, section 10ZA SSCBA 92 transfers liability for Class 1A NICs to the third party. 

Where the award involves the provision of an item on which Class 1 NICs are due, the liability to pay those Class 1 NICs remains with the employer, even though the employer may not have been involved. The one exception to this rule is non-cash vouchers, see NIM16357

If an award by a third party, the provision of which, has not been arranged or facilitated by the employer, is made up of cash or cash vouchers, Class 1 NICs are due. Class 1 NICs remains the liability of the recipient’s employer. The third party should advise the employer of the award and its value should be added to any other earnings received by the earner in the relevant earnings period.



The above statement means that (in the case of Vignal) the payment of any cash direct to him from Rangers has to be disclosed by Rangers to Liverpool and Liverpool ARE RESPONSIBLE for paying tax. 


I wonder if this was disclosed to LFC? If not, this would mean that Rangers are at least guilty of new twist on the HMRC EBT case (assuming this wasn't a bribery pre-contract agreement). 

I doubt it was disclosed to Liverpool as they don't want to be on the hook for additional taxation. 



So what is our conclusion?

1. Signing on fee? Gregory Vignal wouldn't have received a signing on fee as he didn't sign for Rangers. If he did receive a payment for playing for Rangers, it should have came from Liverpool who would have invoiced Rangers for his services then forwarded the payment to Vignal.

2. Performance Bonus? Similar to above. The payment would have been made by Liverpool upon receipt of payment from Rangers.

3. Bribery? Which is explained above and is highly possible that this is the case. 

4. AWR? Liverpool would have to pay Class 1 NIC on Rangers payment, which is highly unlikely. Also in 2004/5 Agency Workers Regulations weren't in place, it was IR35 regulation which only covers self-employment. Knowing that Vignal wasn't self-employed IR35 doesn't effect him.



Having look at all the possibilities of why Gregory Vignal received payment via a Employee Benefit Trust I can only draw to one conclusion, Bribery.


And the last word will go to the Gentleman who helped with this piece.


I believe the Vignal and Nieto cases can be drawn on two scenario's.

Bribery to sign for Rangers and / or they were both eligible for the same benefits as RFC employee's including EBTs

The latter case in real world terms normally allows things like stock purchases at employee rates, holiday entitlements etc...

Even if there are no other scenarios bar bribery, it can be real tricky to prove it has even taken place in my experience even when there is large amounts of evidence. I work as a project manager so I don't have the legal experience to make definitive statements on this but, I would have flagged a scenario like this immediately to my company's compliance team to give guidance on how to proceed. I worked on a project abroad last year where bribery is rife and the UK law even covers foreign transactions so I have flagged many cases to our compliance team (perhaps more blatant) in the past year and had to drop out of certain contract due to potential bribery situations.





Tuesday 14 August 2012

The Loan Rangers

Well, well, well.

Anyone got a tin opener for this 'can of worms'!


Now I have been all over the Rangers story since the start, taking pictures of everything and anything surrounding the Ibrox scandal, then I starting doing this blog and I told you all how Ticketus own Rangers. I also told you about Ex Rangers player tax avoidance secrets.

Anyway.

So I was doing a study on the EBT'ers or the Tax dodging bastards as I like to call them when I happened to stumble across some information that took me by surprise.

First of all we must understand the difference between being Employed by (a football club) and being Loaned to (a football club) are two totally different things.



Employment is a contract between two parties, one being the Employer and the other being the Employee.

In football the Employer is the Parent club which means the club who holds the players full contract registration.

A loaned player is one who is Employed by a football club and his services are Loaned to another club. This club becomes the Loaning club not the Employer.

For more information please use the link below;

 http://www.football-league.co.uk/regulations/20110629/section-6-players_2293633_2125731



Now lets look at Employee Benefit Trusts.

The Employer establishes the trust, making contributions of an equivalent value to the deferred remuneration and the trustees will at a later date distribute the trust funds to employees or ex-employees. 

The basic idea is that the trustees can distribute the trust fund when it is tax advantageous to do so perhaps when the employee is retired or non-UK resident.

The ideal is that there is no employee tax charge until the trustees distribute benefits which may be many years after those benefits have been earned. 

The tax charge may be theoretical rather than real the employee or ex-employee may have moved to a ‘low tax jurisdiction’ or ‘tax haven.’

Further information can be found on the link below;

http://www.contractoruk.com/ebt/



Now it is going to get really tricky for David Murray to explain this one.

Gregory Vignal receive £173,000 via an EBT when he wasn't an Employee of Rangers.

He was loaned from Liverpool to Rangers 2004-2005. His Employee Benefit Trust is subject to Tax and National Insurance as he wasn't an Employee of Rangers Football Club, he was an Employee of Liverpool.


Federico Nieto receive £24,500 via an EBT when he wasn't an Employee of Rangers

He was loaned from Almagro to Rangers 2005. His Employee Benefit Trust is subject to Tax and National Insurance as he wasn't an Employee of Rangers Football Club, he was an Employee of Almagro.


Both players were not contractually Employed by Rangers but received the benefits of being Employed by Rangers.



Now surely the very fact that they are called Employee Benefit Trusts should have told the powers that be at Ibrox that these players were not entitled to and could not receive payments through them as they were not Employees.

Or did they know and done it anyway.

I'm sure we will find out in time but this is a 'clear a sign' yet that Rangers knew exactly what they were doing.

They never thought they would get caught, but they did.


Saturday 11 August 2012

Big Eck

So that's it Big Eck's going to give someone a right hander.

"As for stripping titles, it would be very disappointing if that was to happen to Rangers and I don’t believe it should – and if a guy turns up at my door looking for the medals back, they’ll be getting a right-hander!

Light bulb moment !

Why would he comment when he has largely been forgotten about and why make a statement on the same day as David Murray. 

Everyone will admit that when 53 of the EBT beneficiaries were made public Alex McLeish was kind of overlooked. Everyone pointed at Graeme Souness, Walter Smith, Dick Avocaat. 

So lets take a closer look at the transactions between Graeme Souness and Alex McLeish.


Souness. EBT £30,000
Blackburn Rovers 2000-2004 
Newcastle United 2004-2006

McLeish. EBT £1.7M
Rangers 2001-2006



Barry Ferguson from Rangers to Blackburn Rovers 2003 EBT £2.5M

Lorenzo Amoruso from Rangers to Blackburn Rovers 2003 EBT £639,000

Egil Ostenstad from Blackburn Rovers to Rangers 2003 EBT £370,000

Henning Berg from Blackburn Rovers to Rangers 2003 EBT£0?

Jean Alain Boumsong from Rangers to Newcastle United 2005 EBT £630,000

Olivier Bernard from Newcastle United to Rangers 2006 EBT £224,000

Dr Ian McGuinness from Rangers to Newcastle United 2006 EBT £25,400

Total EBT £6,118,000


Now Graeme Souness might only have received £30,000 but he is implemented in a tax avoidance scheme to the tune of just over £6M, which could soon be tax evasion! 

If it is proved to be tax evasion, maybe Souness silence speaks a thousand words.  


Now did Alex know about the EBT scam?

Did use the EBT's as in incentive for players to earn more money?


We will never know the answers but it does look like Alex McLeish had a good friend in Graeme Souness, thanks pal.



Now lets look at the Dundee connection. 

Some of you who will read this will remember Dundee's Financier who would later become a Director who has been making headline of late. 

Alex Rae from Rangers to Dundee 2006 EBT £596,000

Gavin Rae from Dundee to Rangers 2004 EBT £376,000

Nacho Novo from Dundee to Rangers 2004 EBT £1.3M

Zurab Khizanishvili from Dundee to Rangers 2003 EBT £405,000

Total EBT £2,677,000


Big Eck with just 2 teams is into it for £8,795,000.

Of the EBT beneficiaries list on the BBC's website Alex McLeish is responsible for signing 26 of the players on the list. 

The total amount paid to these 26 players was £16,684,328

Including Big Ecks £1.7M the total paid via EBT's during his tenure is a staggering £18,384,328 


So he is going to start giving right handers out! I'm afraid that would be classed as police assault.




Friday 3 August 2012

Attention / Achtung / uwaga / atención / ความสนใจ / ध्यान

Attention !

What does that word mean?

To call Attention; To bring something to someones attention / to attract / drew someones attention, come to notice.

Attention is the cognitive process of selectively concentrating on one aspect of the environment while ignoring other thing.

Noun;
1, The act of faculty of attention especially by directing the mind to an object.
2, A capacity to maintain selective or substained concentration.

From middle England Attencioun.
From Latin Attentio.
From Attendere, past participe Attentus ("to attend, give heed"); Attend

Attention comes from the word Attend where by you can not be called to Attention unless you are in attendance.

When Charles Green called for Attention he didn't use the A word, he used the B word.


Tuesday 31 July 2012

The life support machine of Ibrox

So today Sevco Scotland have changed their name to The Rangers Football Club Limited.

An extraordinary general meeting of shareholders took place at Ibrox to vote on the new name, well it's not a new name, well it is and it isn't a new name.

I've said that a few times over the summer!



So Charles Green never hid the fact that the company that was basically running The Rangers was called Sevco 5088.

But who are really behind Sevco 5088.



In my blog;  http://thedemiseofrangersinpictures.blogspot.co.uk/2012/06/pictures-from-around-ibrox-stadium.html I explained how the money was being siphoned back to Ticketus through a network of different companies all associated with one and other and that the intricacy of the web would confuse some people.

Well i tried my best to describe it in lay mans terms and I'll try do the same with this.




How the money is being drip fed into Ibrox to keep it alive.

Sevco 5088 Limited are registered at,

35 Vine Street
London
EC3N 2AA

This is the address of Law firm, Field Fisher Waterhouse (FFW).

Now it is known that Charles Green instructed FFW to conduct the CVA negotiations which ultimately failed to be approved.

Sevco 5088 are still registered at the above address.
http://companycheck.co.uk/company/08011390


Now if we take a closer look at FFW. They are Legal advisers to a company called Access Intelligence.

Access Intelligence major shareholder is Octopus, the company that own Ticketus.

http://www.accessintelligence.com/aimrule26.php

http://tools.morningstar.co.uk/uk/stockprofile/default.aspx?LanguageId=en-GB&SecurityToken=0P00007YM0]3]0]E0EXG$XLON&Id=0P00007YM0&ClientFund=0&BaseCurrencyId=GBP&InvestmentType=E0


People have been asking "where are they getting the money from?" Quite simply, Octopus. (Ticketus)


Remembering that Octopus own a very large part of Access Intelligence who's advisers are Field Fisher Waterhouse who Charles Green employed to negotiate the CVA this would highly suggest that this is the money 'in' route.

Also remembering that Octopus are major shareholder in Zeus who have two guys (Brian Stockbridge and Imran Ahmed) on the board, it reiterates that Octopus have more legs under the table than a lot of people think.






Thursday 26 July 2012

Ex Rangers players Tax Secrets

Just to let everyone know I will not be publishing links or details of where this information can be found as it is sensitive.


High earning individuals can invest in partnerships where they can avoid paying Tax or at least save money on paying a lower percentage of Tax than the man on the street. There are loopholes that have been abused by cunning 'Tax Experts', and these 'Experts' have been shopping for investment down Ibrox way.

Please read the following links so you understand the Tax Avoidance Loopholes.


http://www.lowtax.net/lowtax/html/offon/uk/ukfilm.html

http://www.accountancyage.com/aa/feature/2189157/navigating-tax-avoidance-traps



Most of the Individuals listed Invested in these Tax Avoidance Schemes whilst employed by Rangers.


So where do we start, well lets build from the top.





Manager.
Walter Smith. Tax Avoidance Scheme, Roosternet Global LLP

Assistant manager
Archie Knox. Tax Avoidance Scheme, Roosternet Global LLP

Goal Keeper
Allan McGregor. Tax Avoidance Scheme, Taxi Technology LLP
Allan James McGregor. Tax Avoidance Scheme, Taxi Technology LLP

Defenders
Alex Cleland. Tax Avoidance Scheme, Taxi Technology LLP
Mr Alex Cleland. Tax Avoidance Scheme, Eclipse No 1

Alan McLaren. Tax Avoidance Scheme, Taxi Technology LLP

Bob Malcolm. Tax Avoidance Scheme, Taxi Technology LLP
Also received £125,00 via EBT

Maurice Ross. Tax Avoidance Scheme, Taxi Technology LLP
Maurice Ross. Tax Avoidance Scheme, Mcashback Software 6 LLP
Also received £120,000 via EBT

Craig Moore. Tax Avoidance Scheme,  Taxi Technology LLP
Craig Moore. Tax Avoidance Scheme, Eclipse No 1
Craig Moore. Tax Avoidance Scheme, WRP Dryvac LLP
Also receive £1.100,000 via EBT

Scott Wilson. Tax Avoidance Scheme, Taxi Technology LLP
Scott Wilson. Tax Avoidance Scheme, Eclipse No 1 LLP

Midfield
Barry Ferguson. Tax Avoidance Scheme, Taxi Technology LLP
Barry Ferguson. Tax Avoidance Scheme, Eclipse Film Partnership No 9 LLP
Barry Ferguson. Tax Avoidance Scheme, WRP Dryvac LLP
Also received £2.500,000 via EBT

Jorg Albertz. Tax Avoidance Scheme, Eclispe No 1

Charlie Miller. Tax Avoidance Scheme, Taxi Technology LLP

Russel Latepy. Tax Avoidance Scheme, Eclipse Film Partnership No 9 LLP

Kevin Muscat. Tax Avoidance Scheme, Eclipse No 4 LLP

Paul John Gascoigne. Tax Avoidance Scheme, Scotts Atlantic Distributors LLP

Strikers
David Healy. Tax Avoidance Scheme, Invicta Film Partnership No 12 LLP
David Jonathan Healy. Tax Avoidance Scheme, Invicta Film Partnership No 12 LLP

Gordon Durie. Tax Avoidance Scheme, Eclipse Film Partners No 9 LLP




Please Be Aware!

This is Team 1. If and when I need to utilize teams 2/3 or 4 I will. 



Duff & Phelps
Joint Administrators of Rangers.

Paul Clark. Tax Avoidance Scheme, The Close Film sale and Leaseback LLP

David Whitehouse. Tax Avoidance Scheme, Cobalt Data Centre No 3 LLP
David John Whitehouse. Tax Avoidance Scheme, Future Screen Partners No 1 LLP







W Smith 1991-1998 / 2007-2011
A Knox 1991-1998
A McGregor 2001-2012
A Cleland 1995- 1998
A McLaren 1994-1999
B Malcolm 1997-2006
M Ross 2000-2005
C Moore 1994-1998 / 1990-2005
S Wilson 1993-2002
J Albertz 1996-2001
C Miller 1993-1999
R Latepy 2001-2003
K Muscat 2002-2003
D Healy 2011-2012