"Image source, Getty Images A group of former Premier League footballers say they lost tens of millions of pounds because of their financial advisers. Danny Murphy, Michael Thomas and Rod Wallace are part of the V11 campaign group, which comprises 11 footballers who invested with Kingsbridge Asset Management in the 1990s and 2000s. Former England midfielder Murphy - now a Match of the Day pundit - believes he lost roughly 5m because of "financial abuse"."
"David McKee and Kevin McMenamin, who ran Kingsbridge, say they "deny any wrongdoing". They told the BBC: "At all times, Kingsbridge advised in good faith and set out the risks and opportunities both before and after any investment was agreed." Up to 200 footballers may have been affected, with some losing their homes and being made bankrupt. They are now being chased for millions more in tax, despite being told by City of London Police they were "victims of crime"."
Eleven former Premier League players formed the V11 campaign after investing with Kingsbridge Asset Management during the 1990s and 2000s and lost large sums. Danny Murphy believes he lost roughly £5m and describes the experience as "financial abuse". Kingsbridge founders David McKee and Kevin McMenamin deny wrongdoing and say they advised clients in good faith, outlining risks and opportunities. Up to 200 footballers may have been affected; some lost homes and faced bankruptcy. Many are now being pursued for millions in additional tax despite being told by City of London Police they were "victims of crime". A BBC Two documentary will air on 2 September.
Read at www.bbc.com
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