Despite a deciding on the contrary last June, the governing body have now ruled against the owner whilst also accusing the club of bringing the game into disrepute
The Scottish Football Association (SFA) have deemed Rangers owner Craig Whyte unfit to hold a position in football following an independent inquiry.
SFA chief executive Stewart Regan also confirmed that the SPL club themselves could face charges for bring the game into disrepute due to a failure to pay money to Dundee United after a Scottish Cup tie.
The findings of the independent inquiry were revealed at Hampden Park following a special board meeting on Thursday and will now be referred to the Judicial Panel.
A statement by Regan said: "Principally, it is the belief of the [FA] board, taking into account the prima facie evidence presented today, that Mr Craig Whyte is not considered to be a fit and proper person to hold a position within association football.
"We will be writing to Mr Whyte in relation to those findings and shall seek a response within seven days. The report submitted by Lord Nimmo Smith, having been considered fully by the board, highlights a number of other potential rule breaches by the club and its owner.
"The report will now be used as evidence and forwarded to a judicial panel for consideration and determination as per the protocol."