Fake FX Trader Who Spent Client Cash at Casinos Guilty of Fraud | Forex Factory

  • Fake FX Trader Who Spent Client Cash at Casinos Guilty of Fraud

    From bloomberg.com

    A London man who cheated investors out of more than 5 million pounds ($7.6 million) in a fraudulent currency-trading scheme, spending the money at casinos and nightclubs, was found guilty of fraud by a London jury today. Alex Hope took more than 5 million pounds from investors between March 2011 and April 2012, and spent 2 million pounds himself, including 950,000 pounds at casinos, prosecutors said. Hope had already pleaded guilty to operating a collective investment scheme without authorization, the Financial Conduct Authority said in a statement. The 25-year-old “promised fantastic returns but, as is so often ... (full story)

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FXSayWhat
Jan 11, 2015 1:23am
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another bad name for this business i see =(
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Ill-b-back
Jan 9, 2015 6:15pm
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should have just stayed with the biggest multi trillion $ casino
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Pharm0r
Jan 10, 2015 12:34pm
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Who the FUCK pays a 25 year old to manage their money!?
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Mingary
Jan 11, 2015 2:45am
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"A London man who cheated investors out of more than 5 million pounds ($7.6 million) in a fraudulent currency-trading scheme"


==> this is the best way to make money in the forex.
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Citiboy
Jan 10, 2015 8:12pm
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could tell he was a poser from those corny ass pics on his website
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ycomp
Jan 11, 2015 1:23pm
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nice name
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rozay
Jan 9, 2015 5:43pm
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hmm so they finally clamped down on this guy, Hustle continues
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fxpdprotigee
Jan 9, 2015 11:46pm
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He should be made to face the consequence of his actions. Such unprofessional conducts makes investors to lose confidence in trading, thereby making in difficult for serious traders to readily access fresh capital.
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kennkann
Jan 12, 2015 12:05am
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So what a corrupt world we live .. he gets to keep the money the judge and every one get a a cut .. he gets 5 years out in 3 comes home to 1 or 2 million after he pays everyone off ... the victims get scammed by not just him the system as well ... it pays to be a profession criminal .. how can the honest average Joe make 1 or2 million in 5 to 3 years .. the governments these days only care about there tax cut ..
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jaguarxj1
Jan 11, 2015 12:40pm
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Well, why don't just x20 a LOT size, close your eyes and....casino...one Day Buy, next Day Sell...booze, girls, and it's all in your lair...
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tinybolt10
Jan 10, 2015 7:25pm
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he was a goof sales man and greed got the better of the investors
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tinybolt10
Jan 10, 2015 7:25pm
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should be "good sales" man in the above post
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tinybolt10
Jan 10, 2015 7:27pm
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I met the guy and he was a good talker. He could talk about every currency going, even obscure ones, that even professionals knew little about.
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Trader#1824
Jan 10, 2015 8:55pm
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Quoting tinybolt10
I met the guy and he was a good talker. He could talk about every currency going, even obscure ones, that even professionals knew little about.

You mean he was a soothsayer? sales man? yes--but not a trader. Should be hang along with every other corrupted banker.
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Bangali
Jan 11, 2015 1:25am
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@Tinybolt10, a cheater always needs to have some quality, otherwise he or she will be failure in cheating. As in this case, he was aware of the currency market and he was a good talker.
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KingHussain
Jan 11, 2015 2:49am
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I dont get investors even with a proven record, so if this guy managed to get money from people it means he is quite talented, may be not in trading but in show off.
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Trader#F0DB
Jan 11, 2015 2:46pm
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Quoting Mingary
"A London man who cheated investors out of more than 5 million pounds ($7.6 million) in a fraudulent currency-trading scheme"


==> this is the best way to make money in the forex.
Yeah, and if he had just aimed a little higher he would have got away with it for a bit longer

Bob Silver Tongue
PA to Madoff Enterprises
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Trader#A3F8
Jan 9, 2015 7:58pm
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This is probably the dumbest thing I ever heard in my life..
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