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Ex-Celtic director in fraud trial | Ex-Celtic director in fraud trial |
(about 6 hours later) | |
A former Celtic director has gone on trial at the High Court in Edinburgh, accused of a £2.3m fraud scheme. | A former Celtic director has gone on trial at the High Court in Edinburgh, accused of a £2.3m fraud scheme. |
Dominic Keane, 54, is alleged to have tricked two men into signing up to agreements which bound them to debts owed to the Royal Bank of Scotland. | Dominic Keane, 54, is alleged to have tricked two men into signing up to agreements which bound them to debts owed to the Royal Bank of Scotland. |
One of the men was another ex-Celtic director, William Haughey, with whom Mr Keane sat on the board in the 1990s. | One of the men was another ex-Celtic director, William Haughey, with whom Mr Keane sat on the board in the 1990s. |
Mr Keane denies all the charges against him. The trial before judge Lord Turnbull is expected to last two weeks. | Mr Keane denies all the charges against him. The trial before judge Lord Turnbull is expected to last two weeks. |
Prosecutors claim Mr Keane, who has also been a director of Livingston FC, defrauded Royal Bank of Scotland (RBS) between October 1999 and April 2001. | Prosecutors claim Mr Keane, who has also been a director of Livingston FC, defrauded Royal Bank of Scotland (RBS) between October 1999 and April 2001. |
Mr Keane is alleged to have started the scheme by pretending he was part of a partnership raising funding for Livingston Football Club. | Mr Keane is alleged to have started the scheme by pretending he was part of a partnership raising funding for Livingston Football Club. |
'Partnership letter' | 'Partnership letter' |
It is alleged he told an accountant and RBS employee that another partner was Mr Haughey, of City Refrigeration Holdings. | It is alleged he told an accountant and RBS employee that another partner was Mr Haughey, of City Refrigeration Holdings. |
Mr Haughey, it is claimed, was conned into signing a "partnership letter", thinking it was just a routine business document. | Mr Haughey, it is claimed, was conned into signing a "partnership letter", thinking it was just a routine business document. |
The charges go on to allege Mr Haughey's supposed involvement was used to persuade Livingston backer and lottery millionaire, John McGuinness, to sign over life policies worth £1.75m to RBS for security and put his other assets at risk. | The charges go on to allege Mr Haughey's supposed involvement was used to persuade Livingston backer and lottery millionaire, John McGuinness, to sign over life policies worth £1.75m to RBS for security and put his other assets at risk. |
The charge alleges Mr McGuiness lost everything as a result. | The charge alleges Mr McGuiness lost everything as a result. |
Mr Keane is also accused of stealing a share certificate from the refrigeration firm and using it as security and getting Mr Haughey and Mr McGuinness to sign indemnity agreements. | Mr Keane is also accused of stealing a share certificate from the refrigeration firm and using it as security and getting Mr Haughey and Mr McGuinness to sign indemnity agreements. |
The trial heard from Dr Tony Kinder, a senior lecturer at Edinburgh University, who had taken up a non-paid seat on the board of Livingston FC while a councillor in West Lothian. | |
He said Mr Haughey spoke of himself as a part owner, even though advocate depute Alastair Brown, prosecuting, pointed out that records lodged with Companies House showed he had never owned any shares. | |
Football investment | |
Dr Kinder said: "Very responsible people heard Willie indicate that he, personally, was injecting money into the football club, the purpose of which was to build two stands." | |
He said it did not matter to him where the money was coming from "as long as it was legal, of course". | |
When asked about Mr McGuinness' involvement, he said: "I would say John had a great interest in football and a great trust in Dominic and Willie and therefore really took the lead from them and their partnership together in terms of business decision taking. | |
"John wasn't a businessman. He had some money he wanted to invest in football and sometimes you had to struggle to get his attention on the business side of the football club." | |
He said My Haughey's involvement with Livingston tailed off after disagreements with Mr Keane. | |
Dr Kinder also agreed with solicitor advocate Maurice Smyth, defending Mr Keane, that he "could not have worked harder" for the football club. | |
The trial continues. |
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