£53m WASTED

>> Taxpayers to fund huge tab for botched probe into individuals as part of Ibrox takeover >>MSP blasts 'appalling' use of money amid fears final bill could top £60million

- BY CHRIS MCCALL

THE taxpayer has footed a bill of £53million for the "malicious" prosecution of individuals linked to the takeover of Rangers FC more than a decade ago.

The latest figures reveal the cost of a decision to investigate those who helped facilitate a deal to rescue the Govan club in the aftermath of its 2012 financial collapse.

In a statement to the Record, the Crown Office yesterday described the scale of the compensation payments made after the failed prosecutions as "regrettable".

It insisted "significant steps to safeguard against similar situations arising again" had been taken.

The botched investigation led to no convictions and only one individual - former Rangers owner Craig Whyte was ever taken to court, where he was cleared by a jury of all charges in 2017.

The Crown Office has so far paid out £52.2million to those who were wrongfully arrested - but the final bill is likely to be higher as it does not include the settlement and expenses awarded to the last of the complainers.

There were fears the final bill could top £60million. The latest figures were revealed by the Scottish Parliament in a written answer to MSP Murdo Fraser, who said: "Taxpayers will be appalled that they are continuing to foot an ever-soaring bill in relation to this scandal.

"This huge sum of money would have been better spent supporting our public services which are buckling under the strain of SNP cuts.