A hearing to determine whether detectives can permanently confiscate £500,000 seized from George Reynolds' car was adjourned today.

The former Quakers chairman attended Newton Aycliffe Magistrates Court in County Durham with his legal team to contest an application for a forfeiture order by detectives from the North-East's Regional Asset Recovery Team.

The civil proceedings were adjourned until October 27 by District Judge Michael Wood, despite objections from Mr Reynolds' barrister Tim Roberts QC.

"We were ready to have this matter determined last week," he said. Police applied for the order under the Proceeds of Crime Act 2002 last Wednesday (July 14) - a month after magistrates said they could keep the cash for 28 days.

The money will now remain with detectives, who suspect it was laundered from Darlington Football Club, until the two-day hearing in October. The burden of proof will be on them to show they have reasonable grounds to suspect the cash is the proceeds of or intended for use in crime.

Mr Reynolds, his cousin Richard Tennick and personal assistant Ian Robinson were arrested on suspicion of money laundering after police swooped on his car in High Etherley, County Durham, on June 14.

He insists the cash, which he says was stored in a designer Louis Vuitton bag, was from the sale of his house, Witton Hall, at Witton-le-Wear, to the Sterling Consortium, the new owners of Darlington FC.

Mr Reynolds said outside court: "We have done nothing wrong. They were given 28 days and they have come up with nothing.

"I think it's very unfair. It's a case of victimization."

The 67-year-old, once ranked 112th in the Sunday Times Rich List with a fortune of £260m, said he was not worried about police keeping the cash until October but admitted: "I am not worth a lot now. I wouldn't say I was a multi-millionaire."