In 2023, Scott McTominay's company provided £1 million through an investment firm run by his fiancée's father for a Portuguese property purchase; three years later, he faces losing his entire investment amid a bitter £2 million High Court battle

In May 2023, Scott McTominay’s investment company put £1 million towards a property purchase in Portugal, with plans to turn a derelict site in the Algarve into a commercial development. The money was channelled through an investment firm run by his fiancée’s father. Three years later, that firm has collapsed, the property is at the centre of a legal dispute and McTominay’s company is pursuing a £2 million claim in the High Court.How McTominay's investment beganThe transaction dates back to May 2023, when SM Fortress, a company solely owned by McTominay, entered into a £1 million ($1.3 million) facility agreement with Fortress Capital Partners (FCP). The investment firm, operated by Ashley Reading and his daughter Cameron Reading, was intended to act as an intermediary in the purchase of a property in Lagos, in Portugal's Algarve region.McTominay's plan was to acquire a derelict two-storey property and its surrounding land, clear the site and pursue a commercial development. According to the account set out in the legal dispute, SM Fortress intended for FCP to pass the money to a Portuguese company, with the property held in trust rather than treated as an asset belonging to the investment firm.The relationship between the parties was not purely commercial. Ashley Reading ran FCP with his daughter Cameron, who is McTominay's fiancée. The footballer's investment therefore involved a company operated by members of his prospective family, a connection that has become particularly significant since the firm's collapse.McTominay also had additional money invested through the arrangement. Reports put his total exposure at approximately £2.32 million ($3 million), comprising the £1 million facility and a further £1.32 million in funds from his investment company.Fortress Capital Partners collapsesFCP entered administration in September 2023, only months after the Portuguese property transaction. The collapse left approximately 230 creditors facing losses estimated at close to £20 million ($26.3 million).Administrators Begbies Traynor described the firm's business model as having the characteristics of a Ponzi scheme, alleging that money from incoming investors was used to meet earlier obligations and cover existing losses rather than being supported by sustainable investment returns. The firm had attracted investors with promises of substantial returns, reportedly reaching as much as 18 per cent annually.The administrators also raised concerns about money being used in connection with luxury property investments in locations including Dubai and Spain. The collapse prompted a Metropolitan Police investigation into allegations of investment fraud, with the force confirming in 2024 that it was examining the matter.McTominay was not the only high-profile investor affected. Boyzone singer Shane Lynch was also among those reported to have suffered losses, while the administrators warned creditors that recovering their money could prove difficult.Why the Portuguese property is at the centre of the court battleThe dispute intensified after FCP became insolvent and asserted a right to sell the property in Lagos, arguing that the money used to acquire it had been lent by the firm. It also obtained an order preventing SM Fortress from seeking planning permission for the proposed commercial development.SM Fortress disputes FCP's position. Its case is that the investment firm acted as an intermediary and that the property was acquired using funds provided for that specific purpose. The disagreement is consequently about more than recovering money: it concerns who has the legal rights to the Portuguese asset and whether it should form part of FCP's insolvency estate.SM Fortress has now brought a £2 million ($2.6 million) claim against FCP in the High Court. In its response, FCP argued that McTominay's company had no ownership rights over the property and was instead an unsecured creditor, entitled to pursue whatever recovery it could establish through the insolvency process."SMF has no valid claim… over and above whatever rights it may establish as an unsecured creditor," FCP's High Court response stated.If SM Fortress is treated as an unsecured creditor, its claim would be considered alongside those of other creditors rather than giving it a separate entitlement to the property. The company is also pursuing allegations that FCP acted in breach of trust, its rights and a settlement agreement.The wider consequences for the Reading familyThe collapse has extended beyond the dispute with McTominay's company. Cameron Reading, who was a director of FCP between April and June 2021, was ordered to hand over hundreds of thousands of pounds relating to property sales in Dubai and Spain, according to reports. Administrators have also raised concerns about the recovery of assets and the firm's obligations to creditors.For McTominay, the investment has developed into a substantial legal and financial problem while his football career has continued in Italy. The former Manchester United midfielder joined Napoli in August for £25.7 million ($33.4 million) and went on to win the Serie A title in his first season, being named the league's best player.The High Court proceedings will determine the competing claims over the Portuguese property and the money invested through FCP. For now, the £1 million transaction made in May 2023 remains at the centre of a dispute involving a collapsed investment firm, hundreds of creditors and the family of the Scotland international's fiancée.Get the latest Sports News and Live updates. Download the TOI app.