A bunch of professional soccer players in the U.K. have reportedly lost millions in one of the most obvious investment schemes we’ve ever heard of.According to a report in the Daily Mail, the soccer stars were told they’d receive a 20%-a-month return on their investment. The investors could also withdraw their initial capital at anytime, the report said.
Now that’s just too good to be true!
The failed Ponzi-style scheme was said to be connected to ex-Wolverhampton Wanderers and Coventry City player Michael McIndoe who allegedly approached other soccer players to invest, the report said. He hasn’t been accused of any wrongdoing.
The scheme operated with syndicates set up in different parts of the country and a member would go to London to collect monthly payouts. Those payments ended in November and McIndoe hasn’t been seen since, the report said.
The Daily Mail claimed that more than a dozen U.K. soccer players were duped by the scheme. They are currently waiting to see what will happen with their money.