THE City trader who is reported to owe clients millions of pounds has resigned as vice-chairman of Leyton Orient Football Club.

A High Court judge ordered Nick Levene to return 17.8 million he had invested on behalf of Brian Souter and Ann Gloag, founders of travel firm Stagecoach.

Mr Levene is also facing legal action from a number of other clients over debts totalling an estimated £70 million.

A statement on Leyton Orient’s website confirmed Mr Levene has resigned from the club’s board of directors and will be replaced by Eddie Hearn.