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FCA charges two over unauthorised investment scheme

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The Financial Conduct Authority has charged two individuals with 10 offences relating to an unauthorised investment scheme.

Alex Hope of Docklands, London and Raj Von Badlo of Bourne End, Buckinghamshire have been charged with a total of 10 offences relating to an unauthorised investment scheme they promoted and operated.

The scheme purported to carry out FOREX trading and is believed to have taken over £5m from investors.

The charges follow searches of addresses occupied by the two men that were conducted by the FSA 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 were conducted.

For certain offences, such as unauthorised business, the FCA operates as lead investigator and can prosecute individuals for criminal charges.

Both men have been bailed to attend City of London Magistrates Court.

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Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. And yet when the FSA isd presented with evidence of multiple frauds and criminality involving regulated firms they mis-brief MP’s and the Police and pitch it as mis-selling.

    You could not make it up!

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