A former boss of Claims Direct and chief executive of Shrewsbury Town FC has been declared bankrupt with debts of more than £22 million.
Colin David Poole, who made millions when he floated the personal injury firm on the London Stock Exchange, owed £22.55 million to creditors, but has assets worth just £2, official documents show.
Telford-based Claims Direct was valued at up to £700 million after its flotation, but amid a flurry of negative publicity relating to the insurance costs paid by clients, its share price plummeted and it collapsed into liquidation in the early 2000s.