Receivers for Mr Murray's company, New Zealand Golfer Ltd, were last week appointed by Whakatane-based Asset Finance.
Les Austin, director of supplier Golf Gear New Zealand in Albany, supplied Mr Murray with 600 pairs of Kikkor summer golf shoes for the promotion this year.
He expected to lose between $7000 and $10,000, and is still receiving calls from golfers waiting for shoes.
The deal had proved popular and Mr Austin understood there could be as many as 400 more new subscribers than pairs of shoes.
New Zealand Golf Magazine publisher Geoff Witton yesterday said his publication had nothing to do with the allegations.
Mr Murray did not return Herald calls.
CAN YOU HELP?
Those who have been affected or who have further information on the allegations are asked to contact Simon Eckersley of Waikato Police (simon.eckersley@police.govt.nz).