Former Bulls midfielder Michael McIndoe is under investigation over an alleged scam claimed to have seen up to £30million duped from investors.
The Daily Mirror claims that McIndoe, who played for the Bulls in 2000/01, duped up to 100 professional footballers and other people into handing over cash into what Police believe may have been a Ponzi scheme that was first exposed in 2012.
McIndoe, who spent time in rehab for gambling and drinking addictions prior to his Bulls stint, is claimed to have gambled away up to £1million and led a lavish lifestyle before his October bankruptcy for a claimed sum of just over £3million.
The 35 year old is alleged to have spent up to £11,000 a month on renting houses in Belgravia and Knightsbridge, with one investor telling the paper: “He was very convincing and the best salesman you could meet. At the end of the meeting he would take money and put it in a briefcase and get back in the car.”
McIndoe is currently on bail after an allegation of GBH in Doncaster in November, with the paper saying that Scotland Yard are investigating the claims against him.
Back in January 2012 BN noted that McIndoe was alledged to have been involved in an investment scheme collapse.
Former Hereford United winger Michael McIndoe has been linked to an investment scheme that collapsed last month.
It appears that McIndoe touted the scheme which promised high returns from large capital investments. Several well-known players reportedly put money into the venture.
Last year 32 year old McIndoe became a director of a business which claimed to have 'exclusive access to nightclubs and private jets'.
Several syndicates were set up and money collected from footballers.
"The scheme was sold to people as a guaranteed-return investment scheme," a 'source' told the Daily Mail.
"I personally know 20 players who have put money in. You got 20 per cent back each month and could withdraw your initial investment at any time.
"So if you invested £100,000, you got £20,000 back a month and you could get your £100,000 out."
However a football agent told the paper that the scheme was nothing more than greed.
"I’ve heard this guy (McIndoe) has got to walk around with protection. People have been to Scotland to find his family."
McIndoe retired from football last summer after a stint at Coventry. He had been living near Leamington Spa and driving a Bentley. His recent whereabouts are not known according to the paper.
Back in January 2012 BN noted that McIndoe was alledged to have been involved in an investment scheme collapse.
Former Hereford United winger Michael McIndoe has been linked to an investment scheme that collapsed last month.
It appears that McIndoe touted the scheme which promised high returns from large capital investments. Several well-known players reportedly put money into the venture.
Last year 32 year old McIndoe became a director of a business which claimed to have 'exclusive access to nightclubs and private jets'.
Several syndicates were set up and money collected from footballers.
"The scheme was sold to people as a guaranteed-return investment scheme," a 'source' told the Daily Mail.
"I personally know 20 players who have put money in. You got 20 per cent back each month and could withdraw your initial investment at any time.
"So if you invested £100,000, you got £20,000 back a month and you could get your £100,000 out."
However a football agent told the paper that the scheme was nothing more than greed.
"I’ve heard this guy (McIndoe) has got to walk around with protection. People have been to Scotland to find his family."
McIndoe retired from football last summer after a stint at Coventry. He had been living near Leamington Spa and driving a Bentley. His recent whereabouts are not known according to the paper.