Rangers fraud trial not till September 2024

Four businessmen accused of fraudulent trading in relation to an investment firm involved in the disastrous takeover of Rangers FC must wait until September 2024 to stand trial.

Aiden Earley, 55, Richard Spurway, 68, Douglas Ware, 71, Allan Biggar, 62, are accused of concealing the insolvency of Worthington Group pl from shareholders and the Stock Exchange.

Earley is a former business partner and friend of Craig Whyte, who bought the debt-stricken Scottish club from Sir David Murray in May 2011.

Whyte had a seven per cent stake in Worthington and the company’s pension fund put £2.9m into Rangers before the club went bust.

Philip Stott, prosecuting, earlier said: ‘These are allegations of fraudulent trading arising out of the control of a PLC.

‘Aiden Earley is said to have gained around £1.1m, Mr Ware £500,000, Mr Biggar just £500,000 and Mr Spurway £100,000.

‘The loss to investors is of a greater sum than that.’

The four are charged with two counts of fraudulent trading.

Earley faces an additional charge of acting as the director of Worthington Group plc whilst disqualified between 23 July 2013 and 21 November 2016.

Wulstan Earley, 60, is accused of money laundering the proceeds of the group’s insider trading.

Aiden Earley, Spurway, and Biggar appeared at Southwark Crown Court today (thurs) while Wulstan Earley appeared via video-link.

Ware’s attendance was excused so he did not appear.

A trial date was set for 2 September 2024 with a further case management hearing scheduled for 31 March 2023.

Judge Nicholas Rimmer told the defendants: ‘As you are well are you were not asked to enter any pleas just yet.

‘A trial date has been set down as far away as September 2024 …I’m sorry its so far away but that may be of help for case of this scale.’

The five did not enter any formal pleas and were released on unconditional bail.