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Champagne fraudster gets another 16 months in jail for contempt

Champagne-Toast-Celebration-Drink-Alcohol-Party-700.jpgAn investment fraudster who lied to the courts has been given an additional 16-month prison sentence for perverting the course of justice.

Alex Hope, dubbed a ‘champagne fraudster’ after spending investors’s money on a lavish lifestyle, took more than £5.5m from savers through an unauthorised collective investment scheme.

In February 2016, Hope was given three months to pay back more than £166,000 to compensate victims, as well as returning the millions remaining in his bank and trading accounts.

Just £1,000 had been returned by September 2016.

The FCA has now found that since the order to return money and when he was placed in prison, Hope opened a handful of new bank accounts, receiving more than £75,000 in breach of the FCA’s order.

Hope purchased tickets to a Rihanna concert at Wembley Stadium and an Anthony Joshua fight at the O2 with the accounts, despite being on day release from prison at the time.

Hope had already had a 7-year sentence imposed in January 2015, but has now been convicted on additional charges for misleading the FCA and courts about his ability to pay his compensation demands.

FCA enforcement and market oversight director Mark Steward says: “Hope repeatedly misled the courts and the FCA, concealing monies that should have been used to compensate the victims of his crimes. Throughout the course of proceedings, he has shown contempt not only to the court, but also those he has harmed. Today’s outcome sends a clear message. We will continue to pursue wrongdoers and hold them fully to account.”

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  1. It also sends the message that enforcement powers are inadequate if the FCA was not able to forcibly get the money repaid at the end of the 3 months …and why was he given as long as 3 months in the first place??
    Two years after so-called justice and the de-frauded still haven’t been paid back?

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