Football legend says asset manager fraud bankrupted him

Former Premier League footballer Colin Hendry said he will be seeking compensation if an investigation into Kingsbridge Asset Management proves its staff conspired to defraud a large number of its high net worth clients.

So far, four men have been arrested in relation to fraudulent tax deferral schemes that were operated by London-based Kingsbridge between 1992 and 2010.

Four arrests

In 2015 as many as 100 top footballers collectively lost £100m by investing in these schemes, including film and property ventures, operated by Kingsbridge.

On 30 April 2018, police arrested a 60-year-old former employee of Kingsbridge in Alicante, Spain on suspicion of conspiracy to defraud.

This followed the earlier arrests of three men in the UK, a 60-year-old man from Blackburn and two men aged 61 and 38 from Nottinghamshire, on similar charges.

Hendry speaks out

Hendry, who won the Premier League in 1995 with Blackburn Rovers and the Scottish Premier League three times with Rangers, is the first of these footballers to speak out against Kingsbridge.

The retired Scotland star told the Scottish Daily Record: “I’ll want compensation if anything is proven.

“I’ve had a massive disservice done to me financially and advice-wise. You employ somebody to give you advice financially, then you put all your trust in that person.

“So, when you end up bankrupt because of that, then how does that happen?” Hendry told the newspaper.

Investigation ongoing

Police say the investigation is still ongoing and urge anyone with information concerning the activities of Kingsbridge to contact Action Fraud.

Detective superintendent Perry Stokes, who is the senior investigating officer for the case, said in April: “We are encouraging anyone who believes they are a victim or anyone who has information about Kingsbridge Asset Management or companies associated with it, to come forward.

“We are aware that there may be many people impacted by the activities of this company and it is vital that those affected come forward so their voices are heard and we are able to support them and provide the advice that they may need.”

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