Michael Owen caught up in alleged massive Allen Stanford fraud

Posted by - February 19, 2009 - Newcastle United

Is Little Mickey Owen about to be poor Mickey Owen?

Newcastle striker Michael Owen has found himself caught up in an alleged $8 billion fraud. Tycoon Allen Stanford – who is best known in the public eye for his farcical big-money cricket match – has been charged over the alleged fraud, the exact details of which you can find elsewhere.

What most interests OTP is the predicament Owen finds himself in. The England striker is a global ambassador for the shamed company. At the time the endorsement deal was agreed, the Daily Mail reported:

[Stanford] was attracted to Owen because of his clean-cut image and wealth, estimated at £41million by the Sunday Times rich list.

Owen, who says he is proud to be associated with the Stanford brand, has invested heavily in his own training stables and wants to make sure he makes the most of his football income to fund his expensive racing commitments.

Aside from the embarrassment of being a global ambassador for a company in the middle of a huge fraud case, Owen is reported to have a large chunk of his own money invested in Stanford’s banks, the assets of which have now been frozen. Yikes, Mike.