Rangers launch inquiry into Green
Former Rangers owner Craig Whyte has said in recent days that he was secretly involved in the takeover of Rangers last year by a consortium led by Green.
Whyte was the majority shareholder in Rangers, 54 times Scottish champions, when they went into administration in February 2012.
Rangers said they had commissioned an independent report into allegations made by Whyte concerning Green and Commercial Director Imran Ahmad.
"Mr Green and Mr Ahmad strenuously deny any wrongdoing and lawyers have been instructed by the Company to address these allegations," the statement said.
Rangers had to relaunch from the lowly fourth tier of the Scottish game this season after their former parent company went into liquidation.
Green, an English businessman, led the rescue and owns around eight percent of the club which is now listed on London's AIM stock exchange, generally used by smaller companies.