SVEN GORAN ERIKSSON, a Swedish football manager of some repute, is a man known as much for his wide travels as he is for his colourful love life. After scoring great success in Italy, he managed the national teams of England, Mexico, and the Côte d'Ivoire. Even seasoned Sven-watchers however were surprised when he rocked up in North Korea in 2009.

This week it was reported that he had been there at the behest of one Russell King, a convicted conman, who had managed to convince a London financial institution, the government of North Korea, and Mr Eriksson himself that he was managing billions of dollars on behalf of the Bahraini royal family.

A report on the BBC's investigative news programme “Panorama” (or, if you're outside the viewing area) has it that Mr King, who is now believed to be on the lam in Bahrain, first convinced directors of small investment bank First London Plc to hand over 49% of the company to him, in return for his apparently colossal business. This done, he used First London to finance an investment in Notts County, a Midlands football club with a proud history, now plying its trade in the lower divisions.

Mr Eriksson, drawn in by the promise of shares in Swiss Commodity Holdings (SCH), a vehicle of Mr King's, was duly installed as football director at County. He was joined there for a time by another fellow dupe, Sol Campbell, an ex-Arsenal and England star. Messrs King and Eriksson ventured to Pyongyang on SCH business, where they are reported to have made a deal with officials in the North Korean government to grant them exclusive rights to the impoverished nation's gold mines. “I was in the palace and they were handing over to the North Korean government so-called shares”, Mr Eriksson told BBC's investigative news programme “Panorama”. “They used my name”, he laments; there was even talk of him managing the North Korean football team.

Those who follow developments in North Korea tend to prefer casting Kim Jong Il as an evil genius—crazy like a fox—rather than as merely crazy. While there can be no doubting that he has it in him to run circles around America and China, the Dear Leader appears to be no match for a silver-tongued conman of Russell King's stature.