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City expert missing with pounds 20m debts; FINANCE.

A TOP City financier was thought to be in hiding last night after allegedly clocking up nearly pounds 20million of losses and debts.

Nicholas Levene, 45, has snubbed a July High Court order to repay pounds 18million to transport tycoons Brian Souter and Ann Gloag.

The cash is their investment and profits which they have never received.

Mr Levene - based at MG Equity Partners and also vice-chairman of soccer club Leyton Orient - is also being chased via courts by a spread-bet firm for nearly pounds 1million debts.

The club said it had not seen him for weeks. Chairman Barry Hearn would not comment "until we have discussed the situation with Nick Levene". The Met said "certain information" was passed to its fraud squad last week, which it was assessing.

But a spokesman said they had not yet decided whether to open a probe.
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Publication:The Mirror (London, England)
Date:Oct 15, 2009
Words:143
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