Pensioner who lived in £70,000 council house leaves £1.2MILLION to charity in his will after carefully saving during 40 years in the Merchant Navy

A pensioner who lived in a £70,000 council house for most of his life has been revealed as a secret millionaire after he gifted his huge fortune to charities in his will. 

Iain Russell, 76, spent 40 years in the Merchant Navy and squirrelled away his pay, building up £1.2million in cash.

He lived with his wife Irene in Lanarkshire who died two years ago but he then suffered a brain haemorrhage and died in October last year.

But his friends and family have been left shocked after it was revealed he had £550,000 in bank accounts, £450,000 in cash and stocks, and even £144,000 in a bank on the Isle of Man.

Mr Russell left £62,000 to friends and family but ordered the rest of his money be shared by four charities, who will receive around £290,000 each.

Secret millionaire: Pensioner Iain Russell hid his wealth from family and friends and left £1.2m to charity in his will

Diabetes Scotland, MacKenzie Fund for Heart Cardiology, the Guild of Benevolence of the Institute of Marine Engineering and the Royal National Institute for the Blind (RNIB)

will all receive windfalls.

Iain served in the Army but spent most of his career at sea and working on the River Clyde as a member of a tug boat crew.

He lived a modest life and friends have insisted he did not know how much he was worth.

Close colleague, Thomas MacDonald, 72, served alongside Iain in the Merchant Navy.

Mr MacDonald, of Forth, Lanarkshire, said: 'We both served our time together in Morton machine company in Wishaw then Iain was taken to the Army.

'He joined the Merchant Navy in the 1970s and became chief engineer. He stayed in the Navy for 40 years.

'I was totally surprised at the amount Iain left. We were like brothers, probably even closer, and we used to discuss finances and what we would do with any money we had.

'I knew his uncle had died and left him some money and shares but I've no idea how much.

'I'm quite sure Iain was unaware, I don't think he ever knew what was there.'

Thomas also revealed Iain refused to pay for private health care even when he fell seriously ill.

He added: 'He stayed down in Salford latterly because he was getting treated for a brain haemorrhage.

'I pleaded with him to go and pay for the operation privately but he wouldn't do it.'

Humble: Mr Russell lived in this council house in Shotts, Lanarkshire, and spent 40 years in the merchant navy

A neighbour said: 'He was a very quiet man who kept himself to himself but he was very pleasant when you met him in the street.

IAIN RUSSELL'S HIDDEN MONEY 

£550,000 in bank accounts

£450,000 in cash and stocks 

£144,000 on the Isle of Man.

'It has come as a massive surprise to us that he had so much money, nobody could ever have imagined he was a millionaire.'

Iain had been a lifelong member of the Institute of Marine Engineering and they paid tribute to his kindness.

A spokeswoman said: 'Mr Russell had been a member of the Institute and a supporter of the Guild for more than 40 years.

'The Trustees greatly appreciate being one of the four charities to benefit from the residue of Mr Russell's estate.'

A Diabetes Scotland spokesman said: 'We are incredible grateful for people like the late Mr Russell who remember the work of our charity with a gift in their will.

'These gifts are vital for helping us make a big difference to the lives of people with diabetes or those at risk of developing the condition.'

An RNIB Scotland spokesman added: 'RNIB very much depends on the generosity of the public to help us help blind and partially people, and to work to tackle preventable sight loss.'

DM