According to reports this weekend, a former England football manager is suing his financial adviser for swindling him out of £10M.
The News of The World reported on Sunday that Sven Goran-Eriksson is taking Samir Khan to court after the adviser allegedly accepted ‘unlimited access’ to Sven’s wealth and proceeded to blow £10 million on dubious investments, including property schemes.
The tabloid also claimed to have had exclusive access to court documents which allege that Mr Khan invested a portion of the money into Harry Redknapp’s property firm.
The Spurs boss’s firm, which was predicted to turn profit of £4 million, subsequently lost £4.2 million.
Mr Redknapp confirmed with the News of the World that Sven and Mr Khan had been involved with him and that he was aware of the legal battle between the duo but would not comment further.
Another one of the adviser’s supposed property splurges was a joint investment in a Barbados development, involving costs of £4.75 million for land and £3 million for building.
Mr Khan has denied all claims, including those which suggested he had ‘misappropriated money for a variety of improper purposes, including unsecured loans to other companies for secret profits’ and ‘undertaking loss-making speculations on foreign currency markets’.
Mr Khan was also accused of spending Sven’s money on, amongst other things, luxury cars, helicopter rides, foreign holiday homes and artwork.
In response to the claims, which Mr Khan referred to as ‘nonsense’, he described Sven as being an ‘astute and wordly-wise businessman’ who was ‘very much motivated by the idea of making money’.
This week, it seems that Sven is being portrayed as a serial victim of fraud. Alongside his battle with Mr Khan, reports yesterday revealed that the Serious Fraud Office (SFO) is looking into a complex scam that deceived Sven, former spymaster Sir John Walker and the North Korean government.