THE judge in the trial of former Rangers owner Craig Whyte has told a jury "to continue careful consideration" when considering its verdicts.
She explained that the eight men and seven women did not have to deliver a unanimous decision before the jury retired to consider its verdict on Tuesday morning.
Whyte, 46, denies the two charges against him, one of acquiring the club fraudulently from Sir David Murray in May 2011 and another of “financial assistance” under the Companies Act – which centres on a payment, between Whyte’s Wavetower company and Rangers, using season ticket funders Ticketus to clear the club's £18 million bank debt with Lloyds.
Part of the fraud allegations against Whyte is that he pretended to Murray and others that funds were immediately and unconditionally available to make all agreed-to payments in a share purchase agreement.
Regarding the fraud charge, Lady Stacey said before the jury retired: "You have to consider whether the Crown has proved beyond reasonable doubt that there was a dishonest pretence by Mr Whyte and that dishonest pretence brought about a practical result.
Over the financial assistance charge she added: "You are required to decide whether Wavetower acquired shares in Rangers, whether it acquired a liability to the bank for the purpose of acquiring the shares, whether Rangers the gave financial assistance to Wavetower for the purpose of discharging that liability.
"What I am talking about is Wavetower acquiring the shares for a pound in the share purchase agreement, whether it also acquired a liability to the bank, because a bigger part of the deal was that the bank assigned the debt to Wavetower for a price of £18 million and whether Rangers then gave financial assistance to Wavetower the loan of £16 m to discharge the liability."
She pointed out Mr Whyte would be guilty of 'financial assistance' if they felt what was done "was not in good faith and in the interests of Rangers.
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