Manchester United star Scott McTominay could lose nearly £1million after a firm run by his fiancée Cameron Reading's father went bust.
Scott McTominay sets to risk nearly £1million as his investment in a collapsed lending firm run by his partner's father, Ashley Reading, may not be recouped.
The lending company, Fortress Partners, owes £ 18 million to creditors numbering up to 230.
The company borrowed money from investors, including Shane Lynch from Boyzone, before re-lending it at higher interest rates to corporate entities and a 'high net worth individual'.
Meanwhile, McTominay provided Fortress with a £1million loan to purchase an investment property in Portugal.
His inlaw, the Reading family is known for acquiring luxury investment properties worth millions worldwide.
And Scott's partner, Cameron who served as a director of Fortress Capital from April to June 2021, has reportedly sold properties in Dubai and Spain to repay her debts.
Despite administrators confirming that investors are only expected to receive 10p for every £1 they invested, McTominay is only anticipated to receive £100,000 back.
Singer Shane is also facing a significant shortfall of £657,000 out of the £730,000 owed to him.
Despite owing the business £1.2million, Cameron continues to flaunt her extravagant lifestyle on social media.
Ashley, his wife, Cam, and her sister are always seen in photos on Instagram, jet-setting off on lavish holidays. Their travels have taken them as far as Dubai, where they spent months on end.
Meanwhile, those who invested in the firm, including Boyzone star Shane Lynch, are now furious as they are set to receive only 10p back for every pound they put in.
One of the investors who lost thousands lamented to The Sun on Sunday, March 10, saying: "It's especially painful for those of us who have lost our life savings or risk losing our homes."
According to The Sun, the company is believed to owe a total of £17,774,138 to creditors.
Administrators from Begbies Traynor have reported receiving numerous phone calls and emails from creditors expressing ongoing concern and frustration.
Continuing with the report, The Sun stated that numerous creditors who have put their life savings and retirement funds into the Company are now feeling the heat of the bust.
And the sad news is that the Company currently does not have any funds available.
The report continues: ''We are aware that many of the creditors have invested their life savings and retirement funds into the Company and we sympathise with the personal impact this process is having upon them.''
They add: ''At present, the Company has no funds.''
Scott remains silent on the potential loss in Reading's investment, leading us to believe that there will not be a significant backlash or negative reaction to the situation.
What's your take on this? Please, share your thoughts with us in the comment section below:
Scott McTominay sets to risk nearly £1million as his investment in a collapsed lending firm run by his partner's father, Ashley Reading, may not be recouped.
What happened?
The lending company, Fortress Partners, owes £ 18 million to creditors numbering up to 230.
The company borrowed money from investors, including Shane Lynch from Boyzone, before re-lending it at higher interest rates to corporate entities and a 'high net worth individual'.
Meanwhile, McTominay provided Fortress with a £1million loan to purchase an investment property in Portugal.
His inlaw, the Reading family is known for acquiring luxury investment properties worth millions worldwide.
And Scott's partner, Cameron who served as a director of Fortress Capital from April to June 2021, has reportedly sold properties in Dubai and Spain to repay her debts.
Despite administrators confirming that investors are only expected to receive 10p for every £1 they invested, McTominay is only anticipated to receive £100,000 back.
Singer Shane is also facing a significant shortfall of £657,000 out of the £730,000 owed to him.
Despite owing the business £1.2million, Cameron continues to flaunt her extravagant lifestyle on social media.
Ashley, his wife, Cam, and her sister are always seen in photos on Instagram, jet-setting off on lavish holidays. Their travels have taken them as far as Dubai, where they spent months on end.
Meanwhile, those who invested in the firm, including Boyzone star Shane Lynch, are now furious as they are set to receive only 10p back for every pound they put in.
One of the investors who lost thousands lamented to The Sun on Sunday, March 10, saying: "It's especially painful for those of us who have lost our life savings or risk losing our homes."
According to The Sun, the company is believed to owe a total of £17,774,138 to creditors.
Administrators from Begbies Traynor have reported receiving numerous phone calls and emails from creditors expressing ongoing concern and frustration.
Continuing with the report, The Sun stated that numerous creditors who have put their life savings and retirement funds into the Company are now feeling the heat of the bust.
And the sad news is that the Company currently does not have any funds available.
The report continues: ''We are aware that many of the creditors have invested their life savings and retirement funds into the Company and we sympathise with the personal impact this process is having upon them.''
They add: ''At present, the Company has no funds.''
Scott remains silent on the potential loss in Reading's investment, leading us to believe that there will not be a significant backlash or negative reaction to the situation.
What's your take on this? Please, share your thoughts with us in the comment section below: