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Published: Tuesday 06 August, 2013

mens shoes sale mens shoes sale Court orders stockbroker who defrauded



Nicholas Levene, 48, was jailed for 13 years last November after he admitted orchestrating a lucrative Ponzi scheme which raked 316 million into his bank accounts between April 2005 and September 2009.



At Southwark Crown Court today, he was ordered to pay a nominal fee of 1 while an investigation into his assets continues after he filed for bankruptcy in October 2009.



Judge Martin Beddoe said: I certify the benefit to be 32,352,027 and given what I have been told about the issue of Mr Levenes bankruptcy and that the trustee in bankruptcy is confident and has got hold of such assets as were in the possession of Mr Levene in consequence of this offending, it seems to me entirely pragmatic that his assets are seized by the trustee in bankruptcy.



As there is nothing available, I direct that he should pay the nominal sum of 1 within seven days.



Levene admitted ripping off a series of highfliers, including Sir Brian Souter and his sister Ann Gloag, the founders of the Stagecoach bus and rail group; Richard Caring, owner of The Ivy and Le Caprice restaurants in Londons West End; and Russell Bartlett, director of the R3 Investment Group and former owner of Hull City Football Club.



Nicknamed Beano because of his childhood love of the comic book, he was a successful City worker with an estimated wealth of 15 million to 20 million in 2005.



But he was addicted to gambling, spending fortunes on spread betting, and had an insatiable taste for luxury.



Levene, of Barnet Road, Barnet, Hertfordshire, a former deputy chairman of Leyton Orient Football Club, admitted one count of false accounting, one of obtaining a money transfer by deception, and 12 of fraud.



He would take from Peter to pay Paul and move the funds between accounts in financial havens Jersey, Switzerland and Israel.



With his network of contacts and strong reputation, he won peoples faith with seemingly concrete investment de mens shoes sale al mens shoes sale s fr mens shoes sale om which he would take a commission or fee.



The married father of three took millions of investors funds, promising to invest the money in lucrative rightsissue releases from companies such as HSBC, Lloyds TSB and mining firms Xstrata and Rio Tinto.



But he dug an everdeepening financial hole for himself, having to repeatedly fob off clients and make excuses about why he could not pay them.



Living the high life, he had a chauffeurdriven Bentley and went on several holidays a year, each lasting several weeks.



Investigators found evidence of roundtheworld trips, yacht hire and top hotel stays in Australia, South Africa and Israel.



He had a fleet of highperformance cars and for his second sons bar mitzvah he threw a massive London party with a performance by girl band The Saturdays. mens shoes sale

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