Express & Star reveal former Wolves player’s investments
25 June ~ The Express & Star have revealed how a scheme run by former Wolves player Michael McIndoe is believed to have lost up to 100 footballers around £30 million. Fellow player David McDermott has spoken of how he was introduced to McIndoe and invited to party with him in Marbella, where McIndoe paid bar bills of tens of thousands of pounds. McIndoe then told his team-mates and fellow players that an investment scheme he ran paid out 20 per cent interest per month, though he was cagey about the details.
Some initially got their money back but McDermott claims that the payments stopped and it became obvious they would not restart. At a bankruptcy hearing last week, McIndoe told the court he was a “professional gambler”, and documents seen by the Express & Star show Matt Murray is owned £1.6m, while there is a long list of other players listed as creditors including Andy Keogh, Carl Ikeme, Freddy Eastwood, Lloyd Dyer, Leon Best and Gary McSheffrey. The Metropolitan Police have confirmed that an investigation into fraud is underway. The Express & Star have the full details of the scheme and McIndoe’s lifestyle.