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Last Updated: Monday, 14 August 2006, 12:50 GMT 13:50 UK
Squatter spends 710,000 windfall
George Weiss aka Rainbow George
Rainbow George said he had invested in "something brilliant"
A squatter who received 710,000 after selling the flat he had lived in for 20 years has almost run out of cash.

George Weiss, 65, aka Rainbow George, sold his one-bedroom flat in Perrins Court, Hampstead, in December 2004.

Much of his money has been given away while he also funded a minor political party - Vote For Yourself - which advocated the abolition of parliament.

He has 50,000 left which will allow him to pay the rent on his two-bedroom Hampstead flat for another two years.

The 65-year-old said he had no regrets about how he had spent the cash.

'Don't care'

"What's the point in investing the money in property or something like that," he said.

"I'm trying to help to change the world and I've been using the money to do that.

"The money that I have reportedly squandered has been an investment in something brilliant.

"I don't really care, it's nice to be able to help people."

About 230,000 was spent paying off debts while 60,000 was lent to friends.

Vote For Yourself

He even spent 4,000 to pay off bailiffs at a restaurant so they could keep their wine collection.

But perhaps his most interesting venture was his attempt to change the nature of politics.

He spent 100,000 to fund the Vote For Yourself Party to rid politics of politicians.

He helped candidates stand in 13 constituencies during the 2005 General Election but none were successful.




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