THE Serious Fraud Office has launched a criminal inquiry into former Leyton Orient vice chairman Nicholas Levene.

The City financier stepped down from the club's board on Sunday after recently being declared bankrupt.

The High Court recently ordered Mr Levene to pay £17.8million to the founders of travel company Stagecoach and he is believed to have debts of at least £70 million.

The SFO has said that it has received complaints about the business activities of Mr Levene and has started a full enquiry.

The SFO said a 45-year-old man was interviewed under caution at the SFO and released without charge pending further inquiries.