Reuben Akpojaro also worked for the Group and was charged with the same charges in May 2022.
The FCA also noted that further charges were brough against Raheel Mirza and a fifth individual, Taheer Sardar, for obstruction of FCA’s investigation. According to the Agency the two men made fake documents in order to influence the investigation.
The FCA stated that:
Binary options are a high-risk ‘all-or-nothing’ type of investment, which have been banned for retail use since 2019. An investor will try to predict when an event will occur. If they win, they’ll see a return, but if they’re wrong, they’ll lose all their investment.
LeapRate: FCA prosecutes individuals who participated in the binary options scheme Bespoke Markets Group