FORMER Rangers owner, Sir David Murray, was aware of the Craig Whyte's ticket deal and was "comfortable" with it, a jury heard yesterday.
Prosecutors claim Whyte helped fund his takeover by getting a loan from Ticketus against three years of future season ticket sales.
The jury was shown a March 2011 letter from Liberty Capital to Ticketus signed by Whyte.
It referred to re-paying the debt to Lloyds in raising money by selling tickets to the firm and that the “current owner” was “comfortable” with it.
Whyte is on trial at the High Court in Glasgow.
The 46 year-old denies a charge of fraud and a second allegation under the Companies Act in connection with his May 2011 takeover.
A key adviser to Sir Murray, Michael McGill, said he was “appalled” when it emerged Craig Whyte apparently funded his Rangers takeover with money from future season ticket sales.
Mr McGill – a former director of Sir David's Murray Group and then Rangers – was giving evidence for a second day.
He said he only learned about any deal with the firm Ticketus after Whyte bought Sir David's majority stake at Ibrox.
A jury heard how a bid being financed in that manner would not have been “approved”
Prosecutor Alex Prentice asked Mr McGill if he had any “knowledge” of that.
Mr McGill: “No.”
Mr Prentice: “Would you have approved of that?”
Mr McGill: “No.”
The witness said he found out about any Ticketus deal in early 2012.
Mr McGill also yesterday denied the selling of Rangers had been a “firesale”.
The accountant had earlier told the trial that Whyte stated cash for the buyout was coming from his “personal resources”.
But, prosecutors claim Whyte helped fund his takeover by getting a loan from Ticketus against three years of future season ticket sales.
Before Whyte took the helm, Rangers had a sizeable debt to Lloyds Bank – including an £18m loan.
Whyte's QC Donald Findlay later put to Mr McGill that the Rangers board before Whyte took over “pursued a spend to win model”.
This was despite the club being in debt.
Mr Findlay claimed Sir David had taken the club to his “heart”, but left it to directors who “manifestly did not know what they were doing”.
Mr McGill stated he could “not answer that” on behalf of Sir David.
The jury also later heard the tax scheme that could have landed Rangers with a huge bill from HMRC was “dreamt up by a porn star”.
One of the people behind Employment Benefit Trusts was said to be Paul Baxendale Walker – also described in court as “a struck off solicitor”.
Sir David earlier told how EBTs gave Rangers “the opportunity to get players we may otherwise not been able to afford.”
It led to the so-called Big Tax Case, which currently remains unresolved.
The QC said Baxendale Walker had been involved in EBTs and went on to call him a “porn star and a struck off solicitor”.
The trial, before Lady Stacey, continues.
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