Michael McIndoe case: Footballers affected by failed investment scheme urged to help investigation
Footballers caught up in a multi-million pound investment scheme have been urged to contact police after a former Wolves star was quizzed over the fund.
Officers interviewed winger Michael McIndoe under caution earlier this month and now a source close to the investigation say detectives are still interested in speaking to as many footballers as possible with knowledge of the investment scheme, which promised 20 per cent returns a month.
Up to 100 footballers are believed to be connected to the fund but many have been reluctant to come forward.
A source, who lost money in the investment scheme, said: "The problem is many of those who lost money are embarrassed about being involved and others just want to move on with their lives. Some might find it encouraging that after a long time officers have finally interviewed someone under caution and this might persuade more to come forward.
"I would urge anyone who was involved to contact police."
The scheme was at its height during 2010 and initially investors got their money back and the profits.
But by the end of 2011 money was in short supply and the payments stopped. It was previously revealed by the Shropshire Star's sister paper the Express & Star that 17 men are owed nearly £3.5m according to a list prepared for the official receiver of McIndoe's bankrupt estate.
At least five Wolves players lost £2.6m. A source close to the club said a consortium of Wolves players gave McIndoe more than a million pounds in cash in a single payment into his scheme.
There is no suggestion any of those paying money into the scheme were anything other than genuine investors.
The Metropolitan Police has been looking at the investment scheme following a complaint in 2015.
No arrests have been made and no wrongdoing is implied.
It is believed Mr McIndoe, aged 37, who played 27 times for Wolves, has told insolvency experts that 'a friend' is helping him with his legal fees having been declared bankrupt in October 2014.
Mr McIndoe, who is believed to be living abroad, could not be contacted for comment. A Met spokesman said: "Our enquiries continue."
