Former Premier League Players Lose Millions of Pounds to Scammers Disguised As Investor Agents
- Ex-Premier League stars, including Rio Ferdinand and Wayne Rooney, lost millions to scammers disguised as financial advisers
- The V11 group, made up of former footballers, claim they were victims of fraud but now face multi-million-pound tax bills
- Despite police investigations, no prosecutions have been made against the financial advisers involved
A group of former Premier League footballers have come forward to disclose heartbreaking financial losses after falling victim to scammers disguised as trusted financial advisers.
Just like former Super Eagles star Wilson Oruma, these players have reportedly lost a significant amount of their earnings.
Among those affected are Wayne Rooney, Rio Ferdinand, Danny Murphy, and Martin Keown, who invested through Kingsbridge Asset Management during the 1990s and 2000s.
Source: Getty Images
According to the BBC, the scheme reportedly attracted £417 million from 589 sporting professionals footballers, with many players putting money into holiday homes and property ventures that later collapsed.
Former Liverpool and England midfielder Danny Murphy admitted to losing between £4 million and £5 million, confessing that the ordeal left him battling shame, drink, and drugs.
“It’s the shame, embarrassment and guilt of getting yourself in a position that you think you’re better than. I’ve lost four, maybe five million,” Murphy revealed.
Scammed EPL players demand for justice
After losing their millions to scammers, the ex-Premier League players formed the V11 campaign group, which includes Murphy, Craig Short, Rod Wallace, Michael Thomas, Brian Deane, and others.
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The group claims they were victims of crime, yet instead of justice, they now face further penalties from tax authorities, according to The Guardian report.
Despite being officially recognised as victims, each member has been hit with tax bills exceeding £1 million.
Former Aston Villa and Celtic striker Tommy Johnson said it was his own agent who introduced him to Kingsbridge, with the company eventually becoming the financial adviser to many Villa players.
Scammers investigated by Police
Police launched an investigation into Kingsbridge after reports of fraud involving more than £25 million in losses.
However, in 2022, authorities announced that there was insufficient evidence to prosecute, leaving former players frustrated and without recourse.
McKee and McMenamin, the owners of the company, have continued to deny any wrongdoing.
“We were honoured during our careers to have been trusted by [our] clients… that trust was never betrayed,” they released in their statement.
The company originally gained credibility through its close ties with the League Managers Association (LMA), which endorsed Kingsbridge and even allowed it to manage its website.
Howard Wilkinson, then chairman of the LMA and manager of Leeds United and England, gave the company an early stamp of approval, convincing many footballers it was a safe option.
Despite these assurances, many of the ex-Premier League players fell victim, with many losing their life savings.
Ex-Man United star lose millions
In a related development, Legit.ng reported that former Manchester United midfielder Scott McTominay and Shane Lynch are set to lose millions of euros after investing in Fortress Capital Partners, a lending firm.
The company is run by McTominay’s girlfriend, Cam Reading, who serves as director, and the star invested €1 million in the firm, with an additional €1.32 million loaned. Singer Shane Lynch also faces a loss of €730,000 from his investment.
Source: Legit.ng
