Jailed Trader's Pension To Be Seized To Pay Ponzi Victims

Law360, London (October 31, 2019, 4:19 PM GMT) -- The Serious Fraud Office said Thursday it has been given the go-ahead by a court to confiscate the pension of a former City trader who was jailed for 13 years for defrauding investors out of £250 million ($320 million) in a Ponzi scheme.

Judge Martin Beddoe ruled at Southwark Crown Court that the crime-fighting agency could seize the available pension of former stockbroker Nicholas Levene to compensate his victims, the watchdog said.

Levene was jailed for 13 years in 2012 after he admitted to dishonestly accepting money from investors between 2005 and 2009 through a scheme in which he conned his victims...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!