Skip to content
Subscriber Only

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

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.