Hearing in Edinburgh
Former Rangers directors in court over fraud allegations
They were joined by David Grier, 50, David Whitehouse, 50, and Paul Clark, 51.
Prosecutors allege that the five men, together with Gary Withey, 51, pursued a course of criminal conduct during their time at Ibrox.
The Crown claims that in the months before and after the takeover, Whyte, Withey, Grier, Whitehouse and Mr Clark obtained £28,262,094 from ticket company Ticketus and Merchant Turnaround.
Whyte, Whitehouse, Clark and Green are also accused of conspiring to break the law following the administration of Rangers in 2012. It is claimed they took part in a scheme to acquire the club for a sum less than its true market value.
During proceedings, Lord Turnbull imposed reporting restrictions on what was said at the hearing.