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SBD Global/June 27, 2013/Franchises

Rangers Takeover Tapes Reveal Secret Talks On Selling Shares To Fraudster Rizivi

Scottish Second Division Rangers Finance Dir Brian Stockbridge has been found discussed selling £5M ($7.7M) of shares in the club "to a convicted fraudster on Interpol’s most wanted list" on tape, according to Keith Jackson of the Scotland DAILY RECORD. Stockbridge is heard on tape talking to former Rangers Owner Craig Whyte and the club’s axed Commercial Dir Imran Ahmad "about a possible cash injection from Rafat Rizvi, who is being pursued by police." Interpol’s website carries a red notice int'l alert stating that Rizvi, 52, is wanted for "corruption, money laundering and banking crime" over his alleged role in the collapse of a bank in Indonesia. The Rangers Supporters Trust said the revelation that Rizvi was involved in talks was "highly disturbing." It called for fans to be told who has invested in Rangers and said, "We need to ensure the club have been cleansed of unwanted influences." The recorded meeting -- which took place before the attempt to save Rangers from liquidation last summer -- "appears to show that Rizvi’s cash was going to be used to help finance Charles Green’s ultimately successful Ibrox takeover." Green "has subsequently left the club" (DAILY RECORD, 6/26).
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