Sven Goran Eriksson
Eriksson: 'For most people, it's a huge amount of money. It is even for me. That's right, £10m!'

Former England football manager Sven Goran Eriksson has revealed he lost £10 million after falling victim to an alleged scam at the hands of his financial adviser.

Eriksson, 65, said Samir Khan was "the only person on Earth I hate" after launching legal action to recover the funds.

Khan, who denies the claims, was declared bankrupt last month.

Eriksson who currently coaches Chinese Super League team Guangzhou R&F, said he had been forced to sell properties including his "dream home" in Sweden to pay off debts incurred by the bad investments.

"For most people in the world, it's a huge amount of money and it is even for me," said Eriksson. "Yes, that's right, £10 million. Even if I was paid well with the jobs I had it's big, big money."

The money was used to fund "secret profits that have been paid to himself [Khan]", according to court papers filed by Eriksson.

Khan also spent vast sums on "expensive artworks and sculptures", as well as work on his family home and another in Barbados, according to the documents.

Eriksson's lawyers say Khan had access to confidential details "including mandates to bank accounts which gave him unlimited access to Mr Eriksson's wealth".

They added: "About finances, Mr Eriksson is not especially knowledgeable nor particularly interested, except to the extent that he wants to secure the financial future for his family and for himself, expecting his money to be invested soundly and rationally."

Khan met the former England boss in 2004 and took control of his affairs in mid-2007. In 2009, Eriksson asked accountancy firm Deloitte to run checks on Khan after becoming concerned over the arrangements.

He ended his financial relationship with Khan a year later.

In May 2010, Eriksson's solicitors obtained a freezing order in the High Court against Khan and launched legal proceedings against him.

Khan "misappropriated money for a variety of improper purposes, including unsecured loans to other companies for secret profits", the court documents state.

Khan also undertook "loss-making speculations on foreign currency markets", according to the documents.

Eriksson, who has earned at least £7 million in severance deals from England, Manchester City and Mexico, added: "If you talk about money and Samir Khan, I'm angry, disappointed and frustrated. But you can't go around in life thinking about that every day. Life goes on."

Fortunately, the charismatic Swede has has not been left completely penniless.

"I still have some money," he said. "I'm not bankrupt."

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