Sentence has been passed on a man the UK's Financial Conduct Authority successfully prosecuted for investment fraud.

Judge Taylor sentenced Alex Hope at Southwark Crown Court to a total of 7 years’ imprisonment for defrauding investors of significant sums and operating a collective investment scheme without authorisation. More than 100 investors entrusted Hope with in excess of £5½ million. The FCA closed the scheme down in April 2012.  

Hope's co-defendant, Raj Von Badlo, who had earlier pleaded guilty, was sentenced to a total of 2 years’ imprisonment for recklessly making false representations to investors and promoting a collective investment scheme without authorisation.

Despite telling his investors that he would trade their money successfully on the foreign exchange markets, only 12% of the total money that investors gave Hope was ever traded and when he did trade, he lost almost everything.