Dozens of former Premier League footballers face losses estimated at £100m after allegedly following the recommendations of two financial advisers to invest in film and property ventures that turned sour, according to reports.
Former England and Manchester United star turned pundit Rio Ferdinand, as well as his on-pitch rivals Martin Keown and Robbie Savage, are among those who invested, according to leaked documents seen by The Sunday Times. The players invested in film schemes and property ventures recommended by financial advisers David McKee and Kevin McMenamin, of Kingsbridge Asset Management, according to the paper. The film investment schemes were created by Gordon Brown when, as Chancellor, he attempted to encourage development in the British film industry. They allowed investors to put their mon...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes