Former Rangers owner Craig Whyte released on bail over alleged fraud

Former Rangers owner Craig Whyte has been released on bail after appearing in a Scotland court over alleged fraud.

The 43-year-old is accused of conducting fraudulent business during his takeover of the Scottish outfit back in 2011.

According to BBC News, Whyte, who made no plea, was released on bail after Glasgow Sheriff Court heard charges relating to an alleged two-year fraudulent scheme.

Whyte is accused of funding his share in Rangers by selling off season tickets, while he also allegedly failed to pay outstanding VAT and National Insurance payments before the club fell into administration in February 2012.

Whyte, who was arrested in Mexico, purchased Rangers for £1 in 2011.