Reuben Akpojaro was also charged in May 2022 with the same offenses.
The FCA also noted that further charges were brough against Raheel Mirza and a fifth individual, Taheer Sardar, for obstruction of FCA’s investigation. The Agency claims that the men made false documents to influence the case.
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 pursues individuals who participated in the binary options scheme Bespoke Markets Group