A statement from the Crown Office said:
"The Crown Office has today instructed Strathclyde Police to conduct a criminal investigation into the acquisition of Rangers Football Club in May 2011 and the subsequent financial management of the Club.
"The investigation into alleged criminality follows a preliminary police examination of information passed to them in February this year by the Club administrators.
"The Procurator Fiscal for the West of Scotland will now work with Strathclyde Police to fully investigate the acquisition and financial management of Rangers Football Club and any related reports of alleged criminality during that process."
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