'Beano' Levene charged with 11 counts of fraud
Saturday 05 March 2011
Bankrupt city financier Nicholas "Beano" Levene was charged with a string of offences including fraud, money laundering and false accounting by police in London yesterday.
After a 15-month investigation by the Serious Fraud Office, Mr Levene faces charges on 11 counts of fraud by misrepresentation, two offences of possession of an article for use in a fraud, two counts of money laundering and one of false accounting.
The erstwhile multimillionairedenies the allegations. He was released on conditional police bail to appearbefore the City of Westminster Magistrates' Court next Friday. As a condition of the bail, Mr Levene has surrendered his passport and is not allowed to travel outside the UK.
Mr Levene became the "runaway banker" in tabloid headlines in 2009 after reports that he had gone missing as insolvency experts at Deloitte probed debts to clients that reportedly ran to a total of more than £200m.
Mr Levene – whose disappearance was later attributed to a stay in The Priory to address problems with a gambling addiction – denied the allegations and claimed his clients understood the risks he was taking on their behalf.
High-profile claimants included Stagecoach founder Brian Souter and his sister, Ann Gloag, and entrepreneur Richard Caring.
Mr Levene – who earned his "Beano" nickname from a childhood love of the comic – left school at 15 with no qualifications before moving up through a string of jobs in finance includingpositions at Phillips & Drew, Tullett, and Trio Equity Derivatives.
He became a well-known figure in the City, with roles in a number of high-profile institutions. He held a vice-chairmanship at Bramdean Asset Management, the company founded by City "superwoman" Nicola Horlick, though he was never an employee of the company and never served on its main board. Mr Levene also served a stint as the vice-chairman of Leyton Orient Football Club.
However, his investment activities were conducted on a freelance basis, with clients making over large sums of money for him to invest on their behalf.
Top Gear presenter is no stranger to foot-in-mouth controversy
New essay by JK Rowling went live on Pottermore site this morning
Mike Tyson branded 'superhero' after a surprise good turn
Charlie Sheen could be set to revive his role as a hedonistic womaniser
Review: Mike Leigh's biopic is a rambling, rich character study
Want to ward off (or welcome) trick-or-treaters? Here's how
- 1 'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
- 2 Canadian actor punched in face after 'Islamophobia' experiment goes wrong in wake of Ottawa shooting
- 3 Topshop at centre of row over body image as 'shocking' skinny mannequin photo goes viral
- 4 If you think Russell Brand’s new book is confused, you should read what his critics have to say about it
- 5 Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
Canadian actor punched in face after 'Islamophobia' experiment goes wrong in wake of Ottawa shooting
Halloween 2014: From the Screaming Man of Pluckley to the 'White Lady' of the Tower of London - Britain's 20 most haunted places
Russian politician says Apple CEO Tim Cook should be 'banned' from country after coming out as gay
Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
Pope Francis declares evolution and Big Bang theory are real and God is not 'a magician with a magic wand'
Huge surge in Ukip support after EU funding row, according to new poll
Ukip ‘exploiting grooming scandal’ to secure party’s first police chief
Nigel Farage: 'There’s nothing wrong with white people blacking up'
Maureen Lipman says 'she can't vote Labour while Ed Miliband is leader'
Muslims, immigration and teenage pregnancy: British people are ignorant about almost everything
iJobs Money & Business
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...
£20000 - £23250 Per Annum pro rata: Clearwater People Solutions Ltd: Pro rata ...
£40 - 48k + Benefits: Guru Careers: We are seeking a Marketing Manager to join...
£45,000 - £65,000: Saxton Leigh: Our client is a well-known APAC Corporate and...