Collingwood, 36, who retired from Test cricket in 2011, and his wife Vicky, a human resources administrator, say they invested more than £650,000 through Roderick Langham in the hope of generating income while raising their three daughters and providing for a comfortable retirement, according to the Sunday Times.

However, in a High Court writ they say their savings were put into high risk and unregulated investments – against their instructions.

They are seeking their money back with interest from Langham and his investment company, Sigma Wealth Management, which is in the process of liquidation.

Sigma’s famous clients also included the Premier League footballers Shola Ameobi and Fabrice Muamba as well as the cricketer Andrew Strauss, Collingwood’s England Test team mate and captain.