Four men have been detained by police as part of an investigation into the 2011 takeover of Rangers FC.

Unconfirmed reports suggest a warrant was issued for the arrest of disgraced former Rangers owner Craig Whyte within hours of the four men being detained.   It is understood he has left the country and his whereabouts are not known.

The four men were held this morning by Scots police working with officers from three English forces.

It has been confirmed that Paul Clark, David Whitehouse and David Grier, of Rangers former administrators Duff & Phelps, & solicitor Gary Withey are the four held by police.

Mr Clark and Mr Whitehouse were the joint administrators, while Mr Grier is a managing director in the London office of Duff and Phelps.

Police Scotland said the four are being held as part of a probe into the "alleged fraudulent acquisition" of the Glasgow club.

The operation took place at a number of addresses in England and involved officers from the Thames Valley, Cheshire and Surrey forces.

A Police Scotland spokesman said: "Following a Police Scotland operation on Friday November 14, four men have been detained as a result of the ongoing investigation into the alleged fraudulent acquisition of Rangers Football Club.

"At around 6am, officers from Police Scotland, assisted by officers from Thames Valley, Cheshire Police and Surrey Police, attended a number of addresses in England and detained four men."

Today's development is the latest twist in the long-running Rangers saga.

Craig Whyte bought Rangers from Sir David Murray for £1 in May 2011.

It later emerged he underwrote the club's debt by selling three years of season tickets to finance firm Ticketus for £25million.

Rangers went into administration on February 14 2012. Duff and Phelps were then appointed as administrators.

In May, 2013 Duff and Phelps were cleared of any misconduct or conflict of interest over its appointment.

Complaints about the role of Duff and Phelps were made to the Insolvency Practitioners Association (IPA).

These came after a BBC documentary showed previous dealings between the firm and Craig Whyte.

After a "thorough investigation", the IPA said it concluded Duff and Phelps "complied with the relevant guidance".

The investigation surrounded the controversial season tickets deal Mr Whyte had entered into with Ticketus.

The IPA said Duff and Phelps complied with relevant guidance and legislation and there was no prima facie case of misconduct against Mr Whitehouse and Mr Clark, who eventually facilitated a sale to Charles Green's consortium for £5.5 million.

Rangers manager Ally McCoist said: "Obviously I can't or wouldn't comment on a current police matter, but I would have to say I'm shocked.

"Obviously I can't pre-judge what is going to happen.

"Our concern has always been for the staff and supporters. What's happened to us in the last two and a half, three years has been very tough, particularly on the staff and supporters.

"We just want to continue with out attempts to get the club back to where we feel we belong."

Marty Dauer, Media Spokesperson for Duff & Phelps, said: "Duff & Phelps has become aware that three employees in the United Kingdom have been detained for questioning in connection with work performed for Rangers Football Club. 

"This work was commenced while these employees were part of MCR Partners, prior to its acquisition by Duff & Phelps in October of 2011.

"Duff & Phelps has performed an internal investigation and commissioned an independent investigation of the related matters.  As a result, we believe that our work for Rangers was conscientious, thorough, and properly performed in every respect. 

"Duff and Phelps has actively cooperated with all relevant investigating authorities throughout this process. In addition, we have provided thorough reports on our role in the administration of Rangers Football Club to the Court of Session and the Insolvency Practitioners' Association.

"Notably, the liquidator's amended pleadings in English High Court proceedings commenced on April 8, 2011 validate the conclusions of our internal investigation and the independent investigation we commissioned. 

"In addition, our assignments in this matter were comprehensively examined by the Insolvency Practitioners Association ("IPA"), in 2013.  The IPA's review cleared the firm of any wrongdoing or conflict of interest, affirming the position of the firm."