Angry players confront ex-Wolves star Michael McIndoe outside court

McIndoe yesterday faced a barrage of questions from former football players and friends who claim they are owed tens of thousands of pounds after an investment scheme he fronted went bust.

It was previously revealed that six Wolves players have lost hundreds of thousands of pounds in the fund.

The 35-year-old told the court that he had no money or bank accounts despite having formerly lived a lavish lifestyle with multiple properties, expensive cars and a nightclub in London.

Creditors claim that McIndoe ran a "Ponzi" scheme sucking in funds from friends and fellow professionals that he then used to fund a millionaire's lifestyle.

Around 100 footballers from Premier to the lower leagues are believed to have invested in the scheme.

McIndoe, from Edinburgh, was made bankrupt in October last year with disclosed debts of £3 million.

He told the London bankruptcy court that he had no income and was living off £13,900 surplus from the sale of his mother's house but £6,000 of that had been given to his girlfriend.

"That money has been running thin of late so I have been getting help from friends and family," he said.

He added that he was not working and was living with his mother in Edinburgh or staying with a friend in London.

After the hearing, he faced accusations from creditors that he had been in hiding for 10 months and had not responded to their questions about repayment.

McIndoe held meetings with three of them but declined to comment.

"I have nothing to say, I cannot comment about this," he said.

The hearing was adjourned until March 25 and McIndoe must attend a meeting with the bankruptcy trustee later this month.

One regular first team player in Kenny Jackett's side is named on financial documents seen by the Shropshire Star, with the other five either retired or playing for other clubs.

McIndoe played for Wolves 27 times, scoring three goals between 2006 and 2007.