UK watchdog charges two men with illegal forex trading

Mon Apr 29, 2013 10:28am EDT
 
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LONDON (Reuters) - Britain's Financial Conduct Authority (FCA) has charged two men with taking on more than five million pounds ($7.75 million) from investors for unauthorized foreign exchange trading.

The FCA named the men as Alex Hope of Docklands, London, and Raj Von Badlo of Bourne End, Buckinghamshire.

The charges relate to 10 offences and follow searches at their homes in April and May last year. Both have been bailed to attend City of London Magistrates Court, the FCA said.

Hope hit the headlines in March last year for racking up a drinks bill of more than 200,000 pounds at a Liverpool nightclub, with one bottle of champagne costing 125,000 pounds.

(Reporting by Huw Jones; Editing by Louise Ireland)

 
The logo of the new Financial Conduct Authority (FCA) is seen at the agency's headquarters in the Canary Wharf business district of London April 1, 2013. REUTERS/Chris Helgren