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The Curious Case of Michael McIndoe


drs

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To be fair it can be easily percieved as both. I would say more nomadic but I'm not going to be a tedious bellend and pull up folk about it.

Ach, go on. It's a slow day on this thread.

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Do you have any proof of this? Surely there's more money in the Russian league for a start? Portugal? Holland? Turkey even? These countries have teams that play in the Champion's League.

Three years later, but, from November '14:

1415966105488_Image_galleryImage_NEW_WAG

http://www.dailymail.co.uk/sport/football/article-2833020/Premier-League-wages-dwarf-Europe-flight-players-England-earning-average-2-3million-year.html

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Every time I read a story about one of these frauds I always think about giving it a go. Only issue is how to do a proper runner with the cash.

I liked the quote in one of the paper stories allegedly from a players' agent saying "The players can't go to the police... imagine how stupid they would look"

Yes, if there's a group of professionals worried about looking thick, it's defintiely footballers!

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That Sporting Intelligence guy is a prime example of someone getting a hold of loads of data but not really knowing how to verify it or use it properly. I struggle to see why any sort of valid media source would give him credence (I've seen stuff on the BBC too, not just the Daily Mail).

For a start, what sort of measure is "Average player wage per year" for a league? That's entirely dependent on squad size - a team with 20 highly paid first team players and 10 youth teamers could end up with a lower average than a team with 25 first team players on medium wages, even if their total wage bill is higher. The only valid measure is the total wage bill - it's completely irrelevant how many players a club decide to employ using that wage.

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Every time I read a story about one of these frauds I always think about giving it a go. Only issue is how to do a proper runner with the cash.

Your best bet for a decent fraud is a long term boiler room scam. Start your brokerage now and perpetrate the fraud in a few years. Perhaps set up in BVI or Costa Rica.

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That Sporting Intelligence guy is a prime example of someone getting a hold of loads of data but not really knowing how to verify it or use it properly. I struggle to see why any sort of valid media source would give him credence (I've seen stuff on the BBC too, not just the Daily Mail).

For a start, what sort of measure is "Average player wage per year" for a league? That's entirely dependent on squad size - a team with 20 highly paid first team players and 10 youth teamers could end up with a lower average than a team with 25 first team players on medium wages, even if their total wage bill is higher. The only valid measure is the total wage bill - it's completely irrelevant how many players a club decide to employ using that wage.

Probably pulled out a copy of Football Manager 2015 and wore out his calculator.
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It really is disgusting a player like Jimmy Bullard could 'lose' £650,000.

The same Jimmy Bullard that was touting on Twitter last summer for "business partners" to join him selling Herbalife which is in absolutely no way a pyramid scheme. :whistle

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This is a quote from the article -

"Martin Hollis, 30, who bought a property three doors down in mid-December said he paid a “rock bottom” price of £167,000 for his home and was shocked McIndoe had sold it under value.

He said: “[My house] was valued at £188,000 but the people really needed to sell it. We paid what we thought was a good price. It’s surprising and a bit upsetting.”

Am I reading this right - this guy is upset because McIndoe's house was sold for less than what he paid for his (despite him paying £21,000 less than the asking price), he's not upset that McIndoe diddled his creditors?

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  • 2 years later...

CPS considering  evidence against Mcindoe and alleged £30 million investment fraud

 The CPS is examining evidence over an alleged £30million investment fraud scheme  after former Wolves striker Michael McIndoe was questioned by police in January over the scheme.

Yard officers turned to prosecutors after sun burnt Mcindoe was quizzed for a day

It is claimed that former journeyman player McIndoe took millions from  hundreds of fellow players o by promising big dividends that didn't materialise.

It has previously been reported that dozens of high profile footballers and a group of businessmen allege they lost upwards of £20 million through McIndoe’s fund. Aston Villa's Gabby Agbonlahor is believed to be one of many top footballers who became the victims.

 

McIndoe has attended several bankruptcy hearings since the inquiry began and has always denied any allegation of wrongdoing.

Up to 100 players are said to be among 300 victims who lost £30m after being lured into an investment scheme promising a huge 20 per cent-a-month return. Some of the losses coincided when teams were relegated,

Fraud squad detectives conducting an ongoing investigation believe Scots-born McIndoe, 36, is now living in the south of France, where he still enjoys a lavish lifestyle in between frequent trips back to Edinburgh

McIndoe lured people in telling them he had a miracle scheme investing in gold, stocks and London property offering massive returns each month.

Initially the former midfielder, who had a 13-year playing career at cubs including Wolves, Coventry and MK Dons, made good on those promises paying early investors handsome dividends.

But it soon emerged McIndoe’s scam was a simple 'Ponzi' scheme, named after a swindler who made a fortune through fraud in America and Canada in the 1920s.

Players at Aston Villa, Wolves and Coventry are among the worst affected.

Former Spurs striker Robbie Keane, Hull midfielder Jimmy Bullard and Aston Villa winger Gabby Agbonlahor are among those understood to have lost out.

Demand letters are being sent out by lawyers acting for creditors after McIndoe was made bankrupt with £3million debts. One former player is expected to be hit for a staggering £1.6million.

 
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