A former footballer who fronted a £30million investment scheme and lived a millionaire's lifestyle is now 'surviving on handouts', a court has heard. Michael McIndoe, who played for Bristol City and Wolverhampton Wanderers, lured fellow footballers into the scheme with promises of a huge 20 per cent return. But the scheme collapsed amid mounting debts and the tricky winger was declared bankrupt in October last year with more than £2million debts. The footballer - who was known as 'Mr Big' in Marbella, where he partied with glamorous girls, is now being chased through the courts by creditors. McIndoe, circled smoking on a cigar, lived a millionaire's lifestyle but is now surviving on handouts . The former winger revelled in the glamorous lifestyle after persuading fellow players to sign up to the scheme . McIndoe celebrates scoring against Arsenal in December 2005 - it has now been revealed he has no income . Scots-born McIndoe dated a string of glamour models, including Helena Fletcher and Emma Frain (pictured) The 35-year-old told a hearing in London he was now surviving on the generosity of 'good friends and family'. He said: 'Since the bankruptcy, my girlfriend gave me some cash in July and I believe the trustee's solicitors are pressing for that money to be paid back. 'I have received some money from friends, around £9,000, and some money from NatWest for overcharging me on an account. 'But I have no income.' He added how he was not claiming Jobseekers' Allowance and said his legal representatives were working without fee. Questioned by barrister Mr Andrew Carruth, on behalf of the trustees of his bankrupt estate, he said he had not bet for two years and that reports of his previous gambling accounts topping £1 million were 'vastly over rated'. He said £1.5 million owed to one creditor had been invested into 'Stamp', the private members London nightclub he launched in 2011, but was later closed. McIndoe also denied selling a property in Edinburgh at a cheap rate as part of a panic selling reaction to his financial meltdown. McIndoe and his friends at the Ocean Club in Marbella where 'beds' can cost up to 7,950 euros (£5,790) A footballer taken in by the scheme alleges McIndoe had spent £40,000 on champagne in one day . The former winger played for Bristol City in the Championship final in 2008 - the 'Cider Army' lost to Hull City . It was revealed in January this year that up to 300 players signed up to the scheme that may be the biggest swindle ever to hit the British game. The scheme sucked in players including former Tottenham Hotspur forward Robbie Keane and ex-Fulham midfielder Jimmy Bullard, who is thought to have lost around £600,000 which led him to go on the ITV reality show, I'm A Celebrity Get Me Out of Here. McIndoe was made bankrupt in October last year with disclosed debts of £2.4m. Furious creditors are demanding answers to where there money has gone but McIndoe - who now lives with his mother in Edinburgh - said he had no property and his only bank account had been frozen. McIndoe used the promise of 20 per cent returns on people's money to fund his champagne lifestyle . McIndoe started out at Luton Town, making his debut in 1998 and playing for the Hatters 39 times before joining Hereford on a free in 2000. Yeovil then snapped him up for £25,000 the following year. He scored 22 goals in 91 outings for the Glovers, winning promotion from the Conference in 2003 before joining Doncaster for £50,000. McIndoe twice made the PFA Team of the Year with Rovers and was his side's joint-top scorer in 2004-05 with 12 goals. He twice represented the Scotland B side during his time at Rovers. After a loan spell at Derby he joined Barnsley then Wolves, on loan again, before the deal was made permanent for £250,000. He signed a three-year contract with Bristol City in 2007 and scored the winner against Crystal Palace in the second leg of the 2008 Championship play-off semi-final. They lost out to Hull at Wembley and McIndoe had one more season at Ashton Gate before joining Coventry. He also had a brief loan stint at MK Dons. At the height of his scheme, McIndoe revelled in a playboy's lifestyle, partying in Marbella with a limitless credit card and wads of cash. He hired huge villas in Marbella, where he drove a fleet of expensive cars such as a Bentley and a Maybach and hired celebrities, such as the X Factor winner Alexandra Burke to perform at lavish parties. Scots-born McIndoe also dated a string of glamour models, including Helena Fletcher and Emma Frain. 'He was the Mr Big in Marbella, buying loads of champagne and girls all over the place. He even had a bodyguard,' said one footballer, who lost around £75,000 in the scheme. He ran lavish parties at clubs including Funky Buddha in London and ploughed money into private members' club Stamp on Oxford Street. The 35-year-old is also claimed to have rented a £4,000-a-week suite in London's five-star Mayfair Hotel. He also had in an apartment in Eaton Square, one of the UK's poshest addresses in the exclusive Belgravia district of the capital. But last year, the funds dried up and he was investigated. McIndoe told the court he had co-operated with the official receiver and had handed over documents ahead of a meeting with trustees next week. The bankruptcy hearing was adjourned till June 17.
Michael McIndoe lured players into scheme with promise of 20% return . Ex player lived a millionaire's lifestyle and known as 'Mr Big' in Marbella . But was declared bankrupt in October last year with more than £2m debts . The 35-year-old is now being chased through the courts by creditors .