FCA Prosecutes FX Fraudsters Alex Hope and Raj Von Badlo

The lingering battle between Alex Hope and Raj Von Badlo vs. the Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol Read this Term) came to a fitting end Friday, with a pair of prison sentences being dolled out for FX fraud by the Southwark Crown Court.

Mr. Hope was initially arrested as early as April 3, 2012, following allegations of fraud and embezzlement of client funds for the use in casinos, nightclubs and other non-stipulated activities. On April 23, 2014, nearly two years after his initial arrest, the FCA prosecuted Hope, after finding evidence of his FX scam, though not before also bringing in co-conspirator Raj Von Badlo.

Mr. Hope’s co-defendant, Raj Von Badlo, had submitted a guilty plea for recklessly making false representations to investors and an added offence of promoting a collective investment scheme without authorization at a hearing on July 22, 2014.

As a result of these infractions, the Southwark Crown Court has slapped two prison sentences on Mr. Hope and Mr. Von Badlo lasting seven years and two years respectively.

According to acting FCA Director of Enforcement and Market Oversight, Georgina Philippou, in a recent statement on the sentencing, "Alex Hope presented himself as a trader with a flair for trading on the foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term markets when in reality he spent a good deal of his investors' money on himself."

"With the assistance of Raj Von Badlo, Alex Hope enticed dozens to invest considerable sums in his fraudulent scheme. This case shows that the FCA will vigorously protect consumers from those who break the law and do whatever it can to get their money back to them," she added.