FORMER Rangers owner Craig Whyte is facing arrest after the Crown Office issued a warrant for the 43-year-old.

It was issued last night following a two-year investigation into the sale of the Ibrox club in 2011.

The news broke after it was revealed four men were arrested yesterday.

They were named as Paul Clark, London managing director of former Rangers' adminstrators Duff & Phelps, former Duff & Phelps north of England managing director David Whitehouse, David Grier, a former partner in the business, and Gary Withey.

Police Scotland said four men were detained following a joint operation with forces in Thames Valley, Cheshire and Surrey.

Mr Whyte took control of Rangers in May 2011, but the club went into administration in February 2012 - with Mr Whitehouse and Mr Clark acting as joint administrators - and was ultimately liquidated before being relaunched as a new company.

Mr Withey worked for law firm Collier Bristow, which represented Mr Whyte before he bought Rangers from Sir David Murray for £1 in 2011.

As reported in later editions of last night's Evening Times, officers travelled south to detain the men, who were then brought back to Glasgow for questioning.

They arrived at Helen Street police station, Govan, yesterday afternoon with officers.

Rangers' manager Ally McCoist told of his "shock" at the latest twist in the club saga.

He said: "Obviously, I can't, or wouldn't, comment on a current police matter, but I would have to say I'm shocked.

"I can't pre-judge what is going to happen.

"Our concern has always been for the staff and supporters.

"What's happened to us in the last two and a half, three years has been very tough, particularly on the staff and supporters.

"We just want to continue with our attempts to get the club back to where we feel we belong."

Marty Dauer, a spokesman for Duff & Phelps, said the firm was aware of the arrest of three employees in the UK in connection with work performed for Rangers.

He said: "This work was commenced while these employees were part of MCR Partners, prior to its acquisition by Duff & Phelps in October of 2011.

"Duff & Phelps has performed an internal investigation and commissioned an independent investigation of the related matters. As a result, we believe our work for Rangers was conscientious, thorough, and properly performed in every respect.

"Duff and Phelps has actively cooperated with all relevant investigating authorities throughout this process."

"In addition, we have provided thorough reports on our role in the administration of Rangers Football Club to the Court Of Session and the Insolvency Practitioners Association.

"Notably, the liquidator's amended pleadings in English High Court proceedings commenced on April 8, 2011 validate the conclusions of our internal investigation and the independent investigation we commissioned."

victoria.brenan@ eveningtimes.co.uk