Controversial financier Levene quits Orient

Nicholas Levene, the City financier who allegedly owes millions of pounds to investors, has quit the board of Leyton Orient Football Club.

The 45-year-old told Leyton Orient chairman Barry Hearn of his decision to stand down as vice chairman in a telephone call on Sunday.

Hearn told The Daily Telegraph: "Nick called me on Sunday evening. He said he'd clearly got a situation here that he had to deal with and for the good of the club he'd like to tender his resignation. I said that's fine and accepted. The conversation was very short. He sounded OK though."

Levene has had his assets frozen by the High Court after claims that he failed to return profits in excess of £70 million.