Michael McIndoe: Fraud probe into ex-Wolves player dropped
Former Wolves player Michael McIndoe has been cleared over allegations of fraud, New Scotland Yard has confirmed.
The 38-year-old was investigated after a number of allegations were made that he had conned fellow footballers out of millions of pounds.
It had been claimed that a scheme he ran, offering investors 20 per cent interest a month on their initial investments, had led to around 300 people losing a combined total of £30 million.
It was alleged that five Wolves players had lost an estimated £2.6m in the scheme, with one group of players from the club said to have handed over more than a million pounds in one payment in 2011.
- MORE: McIndoe lifts lid on Wolves, Moxey, his £1m Perton home, and apologises over flopped investment
A spokesman for New Scotland Yard said today: "In February 2015 an allegation of fraud was made to Westminster CID.
"Following an initial investigation, the matter was deemed a civil matter and the victim informed.
"Further allegations were subsequently reported to police via Action Fraud.
"These were assessed and an investigation was launched by officers from the Falcon unit."
McIndoe was interviewed under caution in connection with the investigation on January 10 this year, the spokesman said, adding: "No further action will be taken. The investigation is closed."
McIndoe, who played for Wolves from 2006-07, tweeted: "Just been officially informed by Scotland Yard that I have been completely cleared of the allegation of fraud made against me and the CPS are taking no further action."
He was declared bankrupt in 2014, owing 17 men almost £3.5 million.
McIndoe has always denied any wrongdoing and once told a bankruptcy court that he was a ‘professional gambler’.
He has previously said: "I have never run any kind of investment scheme or Ponzi scheme."
Former Wolves and Villa striker Robbie Keane and current Villa forward Gabby Agbonlahor were among dozens of high-profile footballers who were alleged to have lost out.