Michael McIndoe court case: Ex-Wolves star admits to being 'professional gambler'

Ex-midfielder Michael McIndoe, 35, told the High Court he did not know how much he had lost by gambling.

The Express & Star revealed in February how he staked nearly £400,000 in a mass gambling spree which included betting thousands on Wolves and Albion games.

The bankruptcy hearing heard McIndoe had gambled online, spent money in casinos and bet with bookmakers William Hill.

But he said he had not gambled for the last two years.

He asked: "How do we know how much we gamble?"

And he said he 'could not honestly tell you' how much he had lost during his last year as a gambler.

Little detail about what led to McIndoe being made bankrupt was revealed at the hearing.

McIndoe indicated that he became bankrupt last year.

Up to 100 professional footballers who took part in an investment scheme have lost hundreds of thousands of pounds.

The Express & Star understands that it includes a current Wolves player and five former stars of the club, a former Walsall player, a current Kidderminster Harriers squad member and 12 ex-Coventry City players.

Lawyers employed to protect creditors' interests and help gather money owed questioned McIndoe yesterday.

They indicated that he had been loaned money to invest in companies.

One loan had been for £2.5m – of which £1 million had been handed over in cash, the court heard.

The judge, Registrar Nicholas Briggs, said more inquiries were needed and indicated that another hearing would take place later in the year.

He said he was satisfied that Mr McIndoe was co-operating with inquiries.

McIndoe told the court that there was a 'media frenzy' surrounding his case.

Outside court he said he that he did not wish to speak.