The chairman of Glasgow associated football club Rangers FC has issued a statement this afternoon saying that he has "absolutely nothing to fear" from the Crown Office, after he was reported to the police by his predecessor in the role in relation to his financial activities.

Chairman Craig Whyte is the majority shareholder in the club, which has been in continuous operation since it ws founded in 1872. Last week it went into administration after petitions to the Court of Session were made both by Whyte and HMRC.

"Today I learned that my predecessor, Alastair Johnston, has urged the Crown Office to order an investigation into my takeover of the club," Whyte said.

"I have absolutely nothing to fear because any fair investigation will prove that I have always acted in the best interests of Rangers and been involved in no criminal wrong-doing whatsoever."

Last night Strathclyde police confirmed they had been "passed information regarding the ongoing situation at Rangers Football Club."

"This is currently being examined and it would be inappropriate to comment further," it said in a statement.