FCA charges two in relation to an unauthorised investment scheme

Published: 29/04/2013   Last Modified : 15/05/2013
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. 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.

Notes for editors

  1. On the 1 April 2013 the Financial Conduct Authority (FCA) became responsible for the conduct supervision of all regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA).
  2. The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.
  3. You can find more information about the FCA, as well as how it is different to the PRA.

 

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