Angry players confront ex-Wolves star Michael McIndoe outside court
Former Wolves midfielder Michael McIndoe was confronted by angry teammates outside of court after a bankruptcy hearing.
McIndoe yesterday faced a barrage of questions from former football players and friends who claim they are owed tens of thousands of pounds after an investment scheme he fronted went bust.
The Express & Star previously revealed that six Wolves players have lost hundreds of thousands of pounds in the fund.
The 35-year-old told the court that he had no money or bank accounts despite having formerly lived a lavish lifestyle with multiple properties and expensive cars.
Creditors claim that McIndoe ran a 'Ponzi' scheme sucking in funds from friends and fellow professionals that he then used to fund a millionaire's lifestyle. Around 100 footballers from Premier to the lower leagues are believed to have invested.
McIndoe, from Edinburgh, was made bankrupt in October last year with disclosed debts of £3 million. He told the London bankruptcy court today that he had no income and was living off £13,900 surplus from the sale of his mother's house, but £6,000 of that had been given to his girlfriend.
The hearing was adjourned until March 25 and he must attend a meeting with the bankruptcy trustee later this month.
One regular first team player in Kenny Jackett's side is named on financial documents, which were seen by the Express & Star, with the other five either retired or playing for other clubs.
