Fomer Coventry City winger Michael McIndoe is being investigated by Scotland Yard's Falcon Unit fraud squad.
McIndoe, was behind an investment scheme which offered returns of 20% which failed leaving around a hundred footballers including some now former Coventry City players with losses of around £30m.
The police originally declared the matter as a civil one, however, new information has led them to change that and the matter is being investigated by the Falcon Unit Fraud Squad at Scotland Yard.
More on this - http://www.coventrytelegraph.net/news/coventry-news/fraud-squad-launch-criminal-investigation-9479559