The Serious Fraud Office has launched a full investigation into the activities of derivatives trader Nick "Beano" Levene, after he was made bankrupt this month in the face of investor lawsuits claiming at least £70m. The anti-fraud unit said a 45-year-old man, believed to be Levene, had already attended an interview under caution on 15 October and was released without charge pending further inquiries. Among those lodging claims against him are the restaurant and clothing tycoon Richard Caring and transport entrepreneurs Brian Souter and Ann Gloag, founders of Stagecoach. Levene, who also has unpaid debts with two sports spreadbetting firms, has been the subject of two UK asset freezing orders and a third order in Jersey. He has failed to acknowledge several lawsuits against him and was made bankrupt this month.
Many reports had been circulating as to Levene's whereabouts in recent weeks, with some suggestions he was in hiding following threats from angry investors. It was also noted he recently opened bank accounts in Northern Cyprus.
