The Daily Mail reports Nicholas Levene, 48, ran an illegal ‘ponzi’ scheme which he used to fund private jets and super yachts, as well as £10,000 a day hunting trips and a £150,000 a year box at Ascot.

Levene, nicknamed Beano because of his love of the comic, was today ordered to repay the nominal sum due to his bankruptcy.

He was jailed for 13 years in November last year, the report said, after tricking some of the country’s most successful businessmen including Stagecoach’s boss Sir Brian Souter.

The report added the fraudster spent more than half a million pounds on his son’s Bar Mitzvah celebration – which featured a performance by The Saturdays.

He did not appear at today’s Southwark Crown Court hearing. He has seven days to pay the £1.