The ECB were urged to contact the receiver charged with recouping any alleged ill-gotten gains of Sir Allen Stanford's collapsed empire.

It has emerged that the ECB may face legal action if they do not pay back Stanford's creditors millions of pounds given to them by the American financier, who has been charged with running a USD 7billion (£4.3billion) Ponzi scheme and is in custody awaiting trial in the United States.

Stanford denies the charges, which relate to the sale of certificates of deposit in his Antiguan-based Stanford International Bank.

The ECB openly courted Stanford three years ago and received USD 3.5million (£2.2million) as part of a much bigger USD 100million (£61.6million) deal for an ill-fated series of Twenty20 matches.

The Stanford receiver, Ralph Janvey, has already commenced legal action against other sporting bodies to recoup monies paid to them by the 60-year-old.

A lawyer working for Janvey, Kevin Sadler, told Press Association Sport: "The receiver strongly encourages the ECB to contact the receiver to begin discussions concerning the circumstances of the significant payments made by Stanford to ECB."

The ECB may be forced to prove they provided "good value" in return for the payments and demonstrate they received the money "in good faith".

Sadler added in a statement released to the Daily Telegraph: "The receiver and his professionals are engaged in a process of uncovering and then investigating all significant payments made by any of the Stanford entities, and that would include payments made to professional sports figures or organisations.

"Any entity (or person) which received payments from the Stanford Ponzi scheme is subject to a claim for fraudulent transfer, unless the recipient can prove that the payment was received in good faith and that reasonably equivalent value was given in exchange for the payments.

"Payments made for the purpose of promoting the Stanford business image to the public would not pass the legal test of reasonably equivalent value."

The ECB refused to comment on the matter today but chairman Giles Clarke said after Stanford's arrest two years ago: "We entered into the Stanford transaction in good faith.

"Like many sporting bodies, we carried out our side of the contract and he carried out his and we were paid. We then passed those funds on, to the benefit of the game."

After signing the Stanford deal, England played a USD 20million winner-takes-all match against a Stanford Superstars XI in Antigua.

That was due to be the first of five Stanford Super Series but the businessman's arrest meant it was the only staging of the event.

The receivers have also launched legal action against the Miami Heat basketball franchise, and sports agency IMG Worldwide for fees paid by Stanford to Vijay Singh, as well as pursuing Singh's fellow golfer David Toms.

In addition to the ECB, Michael Owen and Kevin Pietersen could see personal deals made with Stanford probed by receivers.

The Stanford Financial Group recruited Manchester United striker Owen and England batsman Pietersen as ambassadors back in 2008.

Eight former West Indies stars - including Sir Viv Richards, Curtly Ambrose, Courtney Walsh and Richie Richardson - were also retained as ambassadors.

Stanford was last month declared unfit to stand trial by a US federal judge until he is treated for an addiction to anti-anxiety medication.