The trial heard how that bid was kicked out while another "50 million euro" offer was also turned down. Rangers rejected a bid to buy the club because it was backed by a Lithuanian bank with links to organised crime. Mike McGill, a chartered accountant from the Murray Group, revealed the bids giving evidence at the trial of former Rangers owner Craig Whyte. He said that two individuals were fronting that bid and had a letter from a Belgian bank pledging 50 million Euros.

He said that a Lithuanian bank had also made a bid for the club, but that the Murray Group had suspicions about the bank. There were allegations that it was linked to money laundering.

At the time — — Vladimir Romanov. McGill was a director at Murray Group and then later at Rangers who first met Whyte in October McGill told the court that he had been placed on the Rangers board along with another Murray Group executive, Donald Muir. McGill said of the Rangers sell-off decision: He said a formal decision to sell the club had been taken in but there had not been a huge amount of interest from potential buyers.

McGill told the court that parameters laid down by the Murray Group for the sale covered three areas. That was the fundamental problem. The company was used, said McGill, to provide advance cash for working capital against season ticket sales.

Asked by Prentice if Rangers would ever have considered multi-season sales to Ticketus, McGill said they would not.

David Murray had £1 deal with bank to buy back metals business if he sold Rangers - Daily Record

He said that after meeting with Whyte he had recived an email with proof of funds from Gary Withey. The court saw emails from Gary Withey, of Collyer Bristow, acting for Whyte, over proof of funds.

McGill was shown the share purchase agreement, a legally binding obligation on both parties, dated May 6, Asked by Prentice where Murray Group thought the funds were, McGill said: Asked if he had had any reason to suspect the funds might not be in place, what he would have done, McGill said: Using the season tickets in that manner was completely unpalatable to us.

Asked by Prentice what the clause meant, McGill said: That could only be drawn down for the purposes of investment in the playing squad.

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