UK Regulator FCA Charges Two for £5 million Forex Investment Fraud

First impressions count an the newly formed FCA seems to be taking this to heart as it continues to play

fcaFirst impressions count an the newly formed FCA seems to be taking this to heart as it continues to play ‘big brother’ in the UK financial markets.

The Financial Conduct Authority (FCA) has charged Alex Hope of Docklands, London and Raj Von Badlo of Bourne End, Buckinghamshire with a total of ten offences relating to an unauthorised investment scheme they promoted and operated.

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The scheme purported to carry out FOREX trading for the benefit of investors and is believed to have taken over £5 million from investors.

The charges follow searches of addresses occupied by the two men that were conducted by the Financial Services Authority with the assistance of the City of London Police in April and May 2012. Both men were arrested at the time of, or shortly after, the searches being conducted.

Both men have been bailed to attend City of London Magistrates Court.

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