The Sunday Mail tracked the 55-year-old down to a modest flat in Glasgow which is nothing like the lavish lifestyle he used to lead.
This is Scotland’s biggest bankrupt Gregory King pictured in public for the first time since he went bust more than six years ago.
Mr Hyde added: “We are still very active in pursuing all avenues to recover assets of Gregory King for creditors, both at home and abroad.Before going bust, King, 55, was said to have enjoyed a lavish lifestyle including a luxury home in Marbella and a Mercedes, Range Rover, and several Harley-Davidson motor bikes.
In January we revealed that a property linked to privately educated King had been seized in nearby Whitecraigs.Top news stories today In October, liquidators Begbies Traynor took possession of the home, which was then put up for sale at offers over £675,000 with any sale proceeds going to pay off King’s debts.
The luxury home neighbours another villa which was seized in 2018 and sold for £5.1million, of which £2 million has since been returned to creditors. Ponzis work by using cash from new investors to make bogus returns to earlier investors, giving the illusion of success. Insolvency experts William Duncan were then appointed as trustees, with the power to sell off Hugh’s assets to repay the debt.
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