Charles Hunter, Kayan Kalipha and Luke Desmaris appeared before Westminster Magistrates’ Court, each individually charged with an offence relating to their social media posts.
The individuals – often referred to as ‘finfluencers’ – are alleged to have encouraged social media followers to invest in foreign exchange (forex or FX) trading through high-risk products known as contracts for difference, without having the authorisation to promote these investments.
The charges follow the FCA’s announcement in June 2025 of a coordinated global enforcement action targeting illegal financial promotions by finfluencers across multiple jurisdictions. As part of that operation, the FCA authorised criminal proceedings against these three individuals.
All three defendants pleaded not guilty and will appear at Southwark Crown Court for a hearing on 8 October 2025.
Anyone who believes they have suffered loss in relation to this matter is encouraged to contact the FCA consumer contact centre on 0800 111 6768 (freephone).
Notes to editors
- The defendants’ backgrounds are as follows:
a. Charles Hunter (DOB 10/09/1996), from Exeter.
b. Kayan Kalipha (DOB 30/01/1990), from London.
c. Luke Desmaris (DOB 01/11/1994), from Harlow. - The individuals are each charged with one count of communicating an invitation to engage in investment activity, contrary to section 21(1) of the Financial Services and Markets Act 2000.
- A person who contravenes Section 21(1) of the Financial Services and Markets Act 2000 can be punished on indictment by a fine and/or up to 2 years' imprisonment.
- These charges form part of the FCA’s wider crackdown on unlawful financial promotions by finfluencers. In June 2025, the FCA led a coordinated international enforcement effort[1] involving nine regulators across six countries. The operation resulted in arrests, interviews, cease and desist letters, and over 650 takedown requests across social media platforms and websites.
- Finfluencers are social media personalities who use their platform to promote financial products and share insights and advice with their followers. Many are acting legitimately and not breaking any laws. Others are individuals who tout products or services illegally and without authorisation through online videos and posts, where they use the pretence of a lavish lifestyle, often falsely, to promote success.
- Contracts For Difference (CFDs) are high-risk derivatives. The FCA has previously said that 80% of customers lose money when investing in CFDs because of the risks. They are often highly leveraged, which means they use debt to try and amplify returns, which can result in investors losing more than they invested. In the UK, the FCA has imposed restrictions[2] on how CFDs and CFD-like options can be sold and marketed to retail customers. The FCA has been carrying out work to address consumer harm in the UK in this sector.
- Consumers should use the FCA’s Firm Checker[3] to find out if a firm is authorised and permission for the service it’s offering. The FCA’s InvestSmart[4] page contains useful information to help people make better investment decisions.