New York  (HedgeCo.net) – The London Metropolitan police are considering launching an investigation into the whereabouts of Nicholas Levene, who is being accused by investors of disappearing with their money.

The Guardian reports that at least £70 million ($114 million) is owed. Others say the hedge fund manager is not on the run, but in a hospital receiving care. His lawyers would neither confirm nor deny, the Guardian said.

The questions started when Levene failed to appear at crucial court hearings to defend himself, prompting the court to freeze assets and demand he surrender his passport. A spread betting firm also alleges that Levene has racked up gambling debts.

“Levene is known to be a generous family man with an extravagant lifestyle. One leading city broker described him as a man who ‘lived the dream’ and had a private jet on call,” the Guardian reported.

“Last week certain information was passed to the fraud squad.” the police said in a statement, “Detectives are now assessing the matter to determine what action if any is necessary. At this time no decision has yet been reached whether an inquiry should be conducted.”

Alex Akesson
Editor for HedgeCo.net
alex@hedgeco.net
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