Football stars lose fortune in £30m investment scam

Football stars Robbie Keane and Jimmy Bullard are among the 100 players who have lost millions after a £30 million investment scam went bust.

Around 100 footballers lost money in the scheme which promised them a 20%-a-month return.

According to the Mirror, ex-Fulham midfielder Bullard has lost £650,000, while former Spurs, Liverpool and Ireland player Keane has lost ‘a fortune’.

The scheme subsequently collapsed and is currently the subject of a police investigation, which is looking into whether it was a Ponzi scheme.

According to the Mirror, former Coventry City midfielder Michael McIndoe is alleged to have approached fellow professional footballers on behalf of the scheme.

The scheme used investment syndicates around the country. At the start of each month a member of each syndicate would travel to London to collect payments. However the payments stopped in November 2011.

Article appeared in the New Model adviser on 5th January 2015