BANKRUPT financier Nick Levene has vowed to pay back the estimated £70m he owes to wealthy clients.

Mr Levene quit the board of Leyton Orient Football Club following reports of multi-million pound debts.

He says that he told clients that he would use their money to buy shares on their behalf but did not invest it.

He has admitted becoming addicted to high-risk spread betting, which can lead to unlimited losses and gains, saying the “adrenaline buzz was incredible.”

Mr Levene told the Mail on Sunday newspaper of his sorrow about his “deceitful” behaviour.

He said: “Once I fully have a complete knowledge of my assets and financial position,then I will put as much right as I can and show my investors I am not running away from it, and they should have faith in me to complete that exercise.

“I think once the accounting is done, and given a few years, the people who a re due monies will be more than happy.”

Mr Levene has been ordered by the High Court to return £17.9m he owes to Brian Souter and Ann Gloag, the founders of travel firm Stagecoach.

The High Court has also made an order freezing his assets and he has had to surrender his passport.

The Serious Fraud Office (SFO) has launched a criminal investigation into Mr Levene's activities.

Mr Levene says he attended the SFO's offices last month but has not heard from them since.

There are believed to be up to 20 other investors who are owed money leading some to estimate his debts to be has high as £200m.

Leyton Orient chairman Barry Hearn has said the saga will not have any financial implications for the Brisbane Road club.

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