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| City financier Nicholas Levene jailed for fraud | City financier Nicholas Levene jailed for fraud |
| (35 minutes later) | |
| A city financier who conned investors out of millions to fund his extravagant lifestyle has been jailed for 13 years. | |
| Nicholas Levene, 48, from north London, took investors' money to buy shares on their behalf but spent it on luxury cars and yachts, the court heard. | |
| The judge at Southwark Crown Court said the scale of the fraud was unprecedented. | The judge at Southwark Crown Court said the scale of the fraud was unprecedented. |
| Levene, who is the former deputy chairman of Leyton Orient FC, admitted 12 counts of fraud. | Levene, who is the former deputy chairman of Leyton Orient FC, admitted 12 counts of fraud. |
| The court heard how he orchestrated the scam between 2005 and 2009. | |
| Among his high-profile victims were 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 London's West End; and Russell Bartlett, director of the R3 Investment Group and former owner of Hull City Football Club. |