Unauthorised forex investment fraudster convicted

An unauthorised forex trader has been found guilty of fraud in a case brought by the Financial Conduct Authority (FCA).

On 9 January before Her Honour Judge Taylor at Southwark Crown Court, Alex Hope was found guilty by a jury of one count of fraud, having previously admitted a charge of operating a collective investment scheme without authorisation. The FCA prosecuted Hope, who ran a scam which claimed to be making large returns for investors from the profits of his forex trading. Georgina Philippou, acting director of enforcement and market oversight at the FCA, said: "Using fraud and false promises, Hope took in those who trusted him to invest their money. "He promised fantastic returns but, as i...