Former trader set to appear in court next week

According to a committal hearing at Southwark Crown Court, foreign currency trader Alex Hope, 24, has been charged with two counts of carrying on a regulated activity without authorisation, two offences of unauthorised financial promotion and one count of fraud.

On 2nd April, the FCA announced that Mr Hope had been arrested at his Docklands flat in east London during a raid by City of London police, on suspicion of financial services offences and fraud.

Mr Hope is said to have breached City rules stating that he must have a licence from the FCA to work on behalf of others.

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Mr Hope was charged by the FCA over an unauthorised investment scheme believed to have collected £5m.

He was due to attend City of London Magistrates’ Court on Tuesday 18 June, but the hearing has been adjourned administratively until 25 June.

Mr Hope, of Docklands, east London, has yet to enter any pleas to the charges. The case continues.