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Settlement reached

Ex-Rangers chief Green handed £6.39m payout

Charles Green: wrongfully accused (pic: SNS Group)

Former Rangers owner Charles Green has accepted a £6.39 million out of court settlement for being wrongfully prosecuted.

Lawyers acting for the Lord Advocate stepped in with the offer just before his case was due to be heard at the Court of Session.

The businessman agreed to receive £6,393,046, averting an eight day hearing over a a malicious prosecution.

He was among a group of men arrested as part of an investigation into the sale of the Ibrox club to businessman Craig Whyte.

Mr Green was part of a consortium which acquired the business assets of Rangers in 2012 and later became the club’s chief executive.

In 2015, he and five others, including Imran Ahmad, were charged with serious organised crime offences in relation to the acquisition.

All were acquitted and Mr Green received a public apology from previous Lord Advocate James Wolffe QC.

The legal team behind Scotland’s most senior prosecutor agreed to settle the action and also pay Mr Green’s legal costs which were not disclosed.

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Earlier this year a settlement was reached with business advisers David Whitehouse and Paul Clark, who each received £10.3m after being wrongly arrested during the investigation.

Speaking today after the settlement had been reached Greg Whyte managing partner of Jones Whyte which represented Mr Green, said: “Following a highly distressing and turbulent ordeal for Mr Green, which has lasted for six years, he is satisfied that we have been able to reach this settlement today, which goes someway to rectify the significant losses suffered by Mr Green as a result of the Crown Offices malicious prosecution against him.

“He is relieved to now be able to move on with his life and put the episode behind him.”

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