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The FSA arrests the ‘self-made’ trader Alex Hope who ran up a £200,000 bar tab

The UK financial services regulator announced yesterday that they had arrested a trader in a suspected unauthorised foreign exchange trading scheme.

With the assistance of the City of London Police, the Financial Services Authority (FSA) today executed a search warrant at one address in East London in connection with an investigation into a suspected unauthorised foreign exchange trading scheme.

A 23 year old man was arrested on suspicion of committing offences under the Financial Services and Markets Act 2000 and the Fraud Act 2006.

No one has been charged at this stage in connection with the FSA’s investigation, which is ongoing.

No further details can be confirmed at this time. The arrest is not linked to any other FSA investigations.

Full press release here.

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