Virgin Islands

locator map of British Virgin Islands
Rangers fans must be boiling mad at the news that their football club is owned by a venture capital company - Liberty Capital Ltd - which is based in the Virgin Islands.

Now this probably good news as far as the club's new owner - Craig Whyte - is concerned.

Since angry Rangers fans can hardly gather outside the company's registered office in the Caribbean - and demand to know just what the hell has been happening in recent months - to bring the club to its knees.

Craig Whyte has been quoted extensively over the weekend - saying words to the efffect that he can account for every single penny that has come into the club - during his stewardship.

But that's his problem - it's not really a matter of what has come into Rangers FC over the 9 months or so that Craig Whyte has been in the driving seat.

The most obvious and pressing issue is how a big club like Rangers - a household name - could possibly fail to pay £5 million in PAYE tax and £4 million in VAT - since May 2011.

Because these are obvious obligations in running any legitimate business - crucial to  every company's business plan - which have to be planned and properly managed - as part of its day-to-day affairs.

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