The former England soccer player is said to have been sheltering his cash in Ingenious Media - a movie investment company that is being investigated by HM Revenue and Customs over tax avoidance allegations.
England soccer captain Steven Gerrard and TV personalities Ant and Dec are also linked to the company which has been accused of illegitimate investments.
Letters have already been sent out to 1,300 past and present investors warning them of ''accelerated payment notices'' if a tribunal set to start in November successfully proves any wrongdoing.
Meanwhile, a secret database leaked to The Times newspaper has claimed George Michael and Sir Michael Caine are also guilty of sheltering their fortunes in a tax avoidance scheme called the Liberty tax strategy.
The WHAM! star is believed to have paid Mercury Tax Group, the Leeds based company that ran the scheme, £443,000 to shelter £6.2 million in record and tour sales.
The 'Zulu' actor is also believed to have used Liberty to shelter at least £600,000 according to the leaked documents.
A spokesman for the actor told The Times newspaper: 'We have no comment to make for or on behalf of Michael Caine.'
While the 51-year-old singer's publicist claims his ''busy schedule'' has left him unable to address the claims.
Arctic Monkeys band members Alex Turner, Jamie Cook, Nick O'Malley and Matt Helders are believed to have paid between £38,000 and £84,000 in fees to shelter between £557,000 and £1.1 million, while singer Katie Melua is also listed as having invested £500,000 in 2008.
Take That star Gary Barlow - who has previously been accused of tax avoidance - is also named in the incriminating list although a financial expert claims he and his bandmates Howard Donald and Mark Owen may have been tricked into investing.
Rebus Group tax scheme expert Martin Taylor told The Sun on Sunday newspaper: ''The alarm bells were already ringing by the time they invested.
''It's a complete mess for those caught up in it. There's no doubt it will hit their image. These are complex issues.
''People are naive and listen to their advisers. They can be victims, not just villains.''
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